Xerox Launches Senior Secured Notes Offering

MT Newswires Live03-25

Xerox Holdings (XRX) said Tuesday it has launched an offering of $400 million total principal amount of senior secured first lien notes due 2030.

The company's Xerox Issuer Corp. unit will also issue a $400 million total principal amount of senior secured second lien notes offering due 2031, it added.

Xerox plans to use the net proceeds from the first lien notes, including cash on hand, to redeem its $90 million, 5% senior notes due 2025, and for general corporate purposes, it said, adding that it intends to use the net proceeds from the second lien notes to finance a part of the purchase price for the proposed Lexmark takeover.

Shares of the company were down more than 2% in recent Tuesday trading.

Price: 5.35, Change: -0.14, Percent Change: -2.46

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