Company: UIS
Filing Date: 2025-06-27
Form Type: 8-K
Source: 0001104659-25-063658
Chunk: 0

Company: UNISYS CORP
Filing Date: 2025-06-27
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On June 27, 2025, Unisys Corporation (“ Unisys”
or the “ Company”) completed its previously announced offer and sale of $700.0 million aggregate principal amount of 10.625%
senior secured notes due 2031 (the “ Notes”).

The Notes are fully and unconditionally guaranteed
on a senior secured basis by Unisys Holding Corporation, Unisys AP Investment Company I and Unisys NPL, Inc., each a Delaware corporation
that is directly or indirectly wholly owned by Unisys (the “ Subsidiary Guarantors”).

The Notes and the guarantees rank equally in right
of payment with all of the existing and future senior debt of Unisys and the Subsidiary Guarantors and senior in right of payment to any
future subordinated debt of Unisys and the Subsidiary Guarantors. The Notes and the guarantees are structurally subordinated to all existing
and future liabilities (including preferred stock, trade payables and pension liabilities) of the subsidiaries of Unisys that are not
Subsidiary Guarantors. The Notes and the guarantees are secured by liens on substantially all assets of Unisys and the Subsidiary Guarantors,
other than certain excluded assets (the “ Collateral”). The liens securing the Notes on certain ABL collateral are subordinated
to the liens on ABL collateral in favor of the ABL secured parties, subject to certain limitations and permitted liens. See “ Amendment
to Amended and Restated ABL Credit Facility” below.

Indenture

The Notes were issued pursuant to an indenture,
dated as of June 27, 2025 (the “ Indenture”), among Unisys, the Subsidiary Guarantors and Computershare Trust Company, N. A.
as Trustee (in such capacity, the “ Trustee”) and Collateral Trustee (in such capacity, the “ Collateral Trustee”),
which includes a form of Note.

The Notes will pay interest semiannually on January
15 and July 15, commencing on January 15, 2026, at an annual rate of 10.625%, and will mature on January 15, 2031, unless earlier repurchased
or redeemed.

Unisys may, at its option, redeem some or all of
the Notes at