Diebold Nixdorf (DBD) priced a $950 million offering of 7.75% senior secured notes due 2030.

The notes will be issued at a price of 100% of their principal amount, and the offering is expected to close Dec. 18, Diebold said Wednesday in a statement. Around that date, the company plans to enter into a new $310 million revolving credit facility maturing December 2029.

Proceeds from the notes offering will be used to repurchase an existing senior secured term loan, repay a super-priority senior secured revolving credit facility debt and cover related fees and expenses, the company said.

Any remaining funds will be used for general corporate purposes, including potential debt repayment.