Xerox Holdings Corporation Announces Proposed Add-on Offering of Senior Notes
August 17 2020 - 7:20AM
Business Wire
Xerox Holdings Corporation (NYSE: XRX) announced today that it
intends to commence an add-on offering of its 5.000% senior notes
due 2025 (the “additional 2025 notes”) and its 5.500% senior notes
due 2028 (the “additional 2028 notes” and, together with the
additional 2025 notes, the “additional notes”), subject to market
and other conditions.
The additional 2025 notes will be issued under the existing
indenture pursuant to which Xerox previously issued $550 million
aggregate principal amount of its 5.000% senior notes due 2025, all
of which remain outstanding. The additional 2028 notes will be
issued under the existing indenture pursuant to which Xerox
previously issued $550 million aggregate principal amount of its
5.500% senior notes due 2028, all of which remain outstanding. The
additional notes will be fully and unconditionally guaranteed by
Xerox Corporation.
Xerox intends to use the net proceeds from the offering of the
additional notes to repurchase, redeem, repay or otherwise retire a
portion of the 4.500% senior notes due 2021 of Xerox Corporation on
or prior to December 31, 2020.
The additional notes and the related guarantees are being
offered and sold to persons reasonably believed to be “qualified
institutional buyers” pursuant to Rule 144A under the Securities
Act of 1933 (as amended, the “Securities Act”) and to non-U.S.
persons outside the United States pursuant to Regulation S under
the Securities Act. The additional 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.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the additional notes or any other
securities, and shall not constitute an offer, solicitation or sale
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful.
About Xerox
Xerox Holdings Corporation makes every day work better.
We are a workplace technology company building and integrating
software and hardware for enterprises large and small. As customers
seek to manage information across digital and physical platforms,
Xerox delivers a seamless, secure and sustainable experience.
Whether inventing the copier, Ethernet, the laser printer or more,
Xerox has long defined the modern work experience. Learn how that
innovation continues at xerox.com.
Forward-Looking Statements
This release contains “forward-looking statements” as defined in
the Private Securities Litigation Reform Act of 1995 relating to
Xerox’s intention to offer and sell, and apply the net proceeds
from the offer and sale of, the additional notes. The words
“anticipate”, “believe”, “estimate”, “expect”, “intend”, “will”,
“should”, “targeting”, “projecting”, “driving” and similar
expressions, as they relate to us, our performance and/or our
technology, are intended to identify forward-looking statements.
These statements reflect management’s current beliefs, assumptions
and expectations and are subject to a number of factors that may
cause actual results to differ materially. Factors that could cause
actual results to materially differ include the Company’s failure
to complete the offering, as a result of market conditions or
otherwise, as well as the other risks and other factors that are
set forth in the “Risk Factors” section, the “Legal Proceedings”
section, the “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” section and other sections of
Xerox Holdings Corporation’s and Xerox Corporation’s 2019 Annual
Report on Form 10-K, as well as in Xerox Holdings Corporation’s and
Xerox Corporation’s Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K filed with the Securities and Exchange
Commission.
These forward-looking statements speak only as of the date of
this release or as of the date to which they refer, and Xerox
assumes no obligation to update any forward-looking statements as a
result of new information or future events or developments, except
as required by law.
Note: To receive RSS news feeds, visit
https://www.news.xerox.com. For open commentary, industry
perspectives and views, visit http://twitter.com/xerox, http://www.facebook.com/XeroxCorp,
https://www.instagram.com/xerox/,
http://www.linkedin.com/company/xerox,
http://www.youtube.com/XeroxCorp.
Xerox® is a trademark of Xerox Corporation in the United States
and/or other countries.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200817005281/en/
Media: Caroline Gransee-Linsey, Xerox, +1-203-849-2359,
Caroline.Gransee-Linsey@xerox.com Investor: Ann Pettrone,
Xerox, +1-203-849-2590, Ann.Pettrone@xerox.com
Xerox (NYSE:XRX)
Historical Stock Chart
From Apr 2024 to May 2024
Xerox (NYSE:XRX)
Historical Stock Chart
From May 2023 to May 2024