12 August 2020
Xerox Takes On More Debt At Higher Rates
NORWALK, CONN—
 
Xerox is talking on an additiopnal debt of $162 million at higher rates . Xerox  is  offering of $550 million amount of 5.000% senior notes due 2025 and $550 million amount of 5.500% senior notes due 2028.
Xerox has had a tough year with failed bid for HP, break up of Fujifilm partnership and larger drop in sales
Xerox has had a tough year with failed bid for HP, break up of Fujifilm partnership and larger drop in sales
Xerox intends to use the net proceeds from this offering to repay at maturity $362 million  amount of 3.500% senior notes due 2020 of Xerox and $376 million aggregate principal amount of 2.750% senior notes due 2020 of Xerox , and Xerox intends to use the balance of net proceeds primarily to repay the 4.500% senior notes due 2021 of Xerox at or prior to maturity. The result is Xerox will be paying between 2% to 3% higher for replacing $738 million of debt with  a $1.1 billion debt. 
 
 
 
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