Xerox Holdings Announces Upsizing of Senior Notes Offering
Xerox Increases Senior Notes Offering
Xerox Holdings Corporation, a prominent player in print technology and services, recently announced plans to upsize its offering of 8.875% Senior Notes due in 2029 to $500 million. Initially set at $400 million, the offering was increased by $100 million, reflecting the company’s positive outlook on investor interest.
Utilization of Proceeds
The company intends to utilize the net proceeds from the notes’ sale for strategic financial maneuvers. This includes refinancing existing debts such as the 3.800% Senior Notes due in 2024 and a portion of the 5.000% Senior Notes due in 2025. Moreover, the funds will also be allocated towards repurchasing or redeeming other outstanding debts, covering associated fees and expenditures.
Anticipated Finalization and Offering Details
The sale of the senior notes is set to conclude on March 20, 2024, subject to customary closing conditions. These notes, along with related guarantees, are being offered to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S of the Securities Act of 1933.
Legal Considerations and Offering Restrictions
It’s important to note that the senior notes and their guarantees have not been registered under the Securities Act or any state securities laws. Consequently, their offering or sale within the United States requires registration or an exemption from registration requirements as per legal stipulations.
Xerox’s Extensive Legacy and Innovation
With a rich history spanning over a century, Xerox Holdings Corporation has been a pioneer in workplace innovation. Evolving from print technology to comprehensive software and services, the company continues to adapt to the dynamics of modern work environments, providing invaluable support for today’s globally distributed workforce.
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