Xerox wants to raise $800 million
August 4, 2020
The entrance to Xerox’s site in Wilsonville, Oregon
Xerox wants to raise $800 million (€626million) to pay down debt maturing this year and for general corporate purposes.
Xerox Holdings Corporation (Xerox) announced that it intends to commence an offering of $400 million (€339 million) aggregate principal amount of senior notes due 2025 and $400 million (€339 million) aggregate principal amount of senior notes due 2028, to “qualified institutional buyers”, subject to market and other conditions.
Xerox intends to use the net proceeds from this offering to repay at maturity $362 million (€307 million) aggregate principal amount of 3.500% senior notes due 2020 of Xerox Corporation and $376 million (€319 million) aggregate principal amount of 2.750% senior notes due 2020 of Xerox Corporation, and to use the remaining proceeds for general corporate purposes.
Xerox advises that the notes will be fully and unconditionally guaranteed by Xerox Corporation and that the notes and the related guarantees have not been registered for sale under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.
Categories : City News
Tags : Business Funds Senior Notes Xerox
