NORWALK, Conn. - Xerox Holdings Corporation (NASDAQ: XRX) announced today its plan to issue up to $400 million in aggregate principal amount of Senior Notes due 2029.
The offering is contingent on market conditions and will involve guarantees from Xerox Corporation (NASDAQ:XRX) and other domestic subsidiaries that back the company's current senior credit facilities.
The proceeds from the sale are earmarked for refinancing existing debts, specifically the company's 3.800% Senior Notes due 2024, of which $300 million is outstanding, and a portion of its 5.000% Senior Notes due 2025. The refinancing strategy includes a tender offer and/or redemption, coupled with the payment of related transaction fees and expenses.
The Notes and their guarantees will be offered to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons outside the United States under Regulation S of the same act. These securities have not been registered under the Securities Act or state securities laws and are subject to restrictions on their sale in the U.S. without registration or an applicable exemption.
Xerox, a company with over a century of history, has evolved from its strong foundation in office and production print technology to offering a range of software and services designed for the hybrid workplace. The company remains focused on delivering technology solutions that cater to the needs of a global workforce.
The information presented in this announcement is based on a press release statement.
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