Unisys Corp has asked its bank lenders to ease the terms of its unsecured $1,250m credit line according to American Banker magazine, which suggests that the 23-member banking syndicate will likely oblige the company if Unisys agrees to secure the revolving credit line with some form of collateral. Unisys said that it had not made a decision to request new terms but was continuing its communications process with banks. Unisys wants lenders to reduce the level of net worth it must maintain losses and asset sales threaten to push its net worth below the minimum threshold and trigger automatic repayment provisions of the credit agreement.
