Unisys Corp.’s finance chief is weighing a bond sale in the coming months to reduce the company’s substantial pension deficit. That’s the highest ratio among the 100 largest defined-benefit pension plans owned by U.S. companies, according to actuarial consulting firm Milliman Inc. Under defined-benefit plans, companies promise to pay out fixed sums to retirees, sometimes over decades. Unisys plans to use some proceeds from a recent, $1.2 billion sale of one of its businesses to Science Applications International Corp. to shrink its pension hole. The impact of a potential bond sale on Unisys’ pension deficit would depend on the size of the offering, said Ishfaque Faruk, an analyst at Sidoti & Co., a research firm.

Source: Wall Street Journal September 23, 2020 16:18 UTC