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BTA Hotline: News

Lexmark Completes Security Agreement

Tuesday, April 10, 2018  
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Lexmark has announced that, effective April 2, 2018, Lexmark International Inc. (the "company") entered into a security agreement with China CITIC Bank, as collateral agent (the "collateral agent"), for the benefit of the co-secured parties under the security agreement.

Pursuant and subject to the terms of the security agreement, the company granted to the collateral agent, for the equal and ratable benefit of the co-secured parties, a first priority lien on and security interest in (subject to permitted liens), those assets of the company that are expressly subject to the security agreement (the "collateral").

Wilmington Trust, National Association, as trustee for the holders of the 2020 Senior Notes, is one of the co-secured parties under the security agreement and is entitled to the benefit, on a pari passu basis, of the lien and security interest granted by the company in the collateral pursuant to the security agreement. The trustee has been notified that the security agreement is now effective and has been provided with an executed copy.

All other lenders who are counterparties to agreements with the company relating to hedging or cash management services that are approved by the collateral agent will, upon execution of a joinder agreement agreeing to be bound by the terms of the security agreement, be entitled to the benefit, on a pari passu basis, of the lien and security interest granted by the company in the collateral pursuant to the security agreement.

"We are pleased to announce the completion of this agreement," said Art Richards, treasurer, Lexmark. "Lexmark is a financially stable company with strong investor backing, and we are positioned for profitable growth."

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