Unisys Corp. of Blue Bell said today it had priced $210 million of debt securities that will be sold next week and will mature in 2016.
The notes will be sold at 98.719 percent of their face value. Combined with an interest rate of 12.5 percent, that gives them a total yield of 12.75 percent.
Bear, Stearns & Co., Banc of America Securities LLC and Citigroup Global Markets Inc. are the managers of the offering, which is expected to close on T*uesday.
Unisys said it will use the proceeds to redeem notes due next year. Those notes pay 77/8 percent interest.
Shares of the information technology company were up 7 cents in late-morning tradeing at $5.17 on the New York Stock Exchange.