Xerox Holdings Corporation Announces Pricing of Senior Notes Offering
August 04 2020 - 5:24PM
Business Wire
Xerox Holdings Corporation (NYSE:XRX) announced today that it
has priced an offering of $550 million aggregate principal amount
of 5.000% senior notes due 2025 and $550 million aggregate
principal amount of 5.500% senior notes due 2028. The notes were
priced at par. The offering is expected to close on August 6, 2020,
subject to customary closing conditions. The notes will be fully
and unconditionally guaranteed by Xerox Corporation.
Xerox intends to use the net proceeds from this offering to
repay at maturity $362 million aggregate principal amount of 3.500%
senior notes due 2020 of Xerox Corporation and $376 million
aggregate principal amount of 2.750% senior notes due 2020 of Xerox
Corporation, and Xerox intends to use the balance of net proceeds
primarily to repay the 4.500% senior notes due 2021 of Xerox
Corporation at or prior to maturity.
The 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 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 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 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
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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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200804006067/en/
Media: Anne Marie Squeo, Xerox, +1-203-849-2374,
AnneMarie.Squeo@xerox.com
Investors: Ann Pettrone, Xerox, +1-203-849-2590,
Ann.Pettrone@xerox.com
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