What happened Shares of NCR (NYSE: NCR) have risen today, up by 2% as of 12:30 p.m. EDT, after the company announced an offering of senior notes. Many companies are beefing up their balance sheets to help weather the impacts of the COVID-19 crisis. So what NCR is looking to raise $400 million from the senior notes offering. The notes will come due in 2025 and are being offered to qualified institutional investors. The payment tech company says it plans to use the proceeds for working capital and general corporate purposes. NCR serves the restaurant industry, which is getting slammed by the coronavirus. Image source: Getty Images. The offering will substantially strengthen NCR's balance sheet. The company finished last year with $509 million in cash and cash equivalents, and NCR serves sectors that have considerable exposure to coronavirus-related shutdowns, including retail and hospitality. Those segments represented 44% of NCR revenue last year. Now what In its most recent annual report, NCR also acknowledged that the coronavirus outbreak could adversely impact the company's supply chain in China. NCR hosted a conference call with investors last week to discuss the effects of the public health crisis. The company withdrew the guidance that it had previously issued in February and detailed the anticipated impacts on its various operating segments. Expectedly, certain markets within the retail and hospitality segments such as local restaurants will see significant impacts in the near term. NCR hopes to be cash flow neutral each quarter as it looks to cut costs by suspending share repurchases and limiting M&A activity. The company is also implementing salary reductions as well as a hiring freeze to save cash. 10 stocks we like better than NCRWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and NCR wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of March 18, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool recommends NCR. The Motley Fool has a disclosure policy.Source