JPMorgan said to be shopping rescue financing to boost Diebold liquidity
JP Morgan Chase & Co., a major lender to Diebold Nixdorf Inc., is shopping rescue financing to provide liquidity for the company, according to a Bloomberg report.
Bloomberg cited unidentified sources familiar with the situation who said that the lender is looking for commitments of at least $500 million from distressed-debt funds.
Some funds are said to be reviewing terms of the financing, which would be used to pay down other debt.
Bloomberg cited other unnamed sources in its reporting that Diebold is working with Evercore to review strategic alternatives, and with Credit Suisse Group AG to assist in the sale of noncore assets.
Bloomberg reporters were unable to obtain comments from any of the named companies.
Companies: Diebold Nixdorf