NORWALK, Conn. - Xerox (NASDAQ:XRX) Holdings Corporation (NASDAQ: XRX), a leader in print technology and services, has announced the pricing of a $500 million offering of 8.875% Senior Notes due in 2029. The offering, initially expected to be $400 million, was increased by $100 million.
The company has stated its intention to use the net proceeds from the sale of the notes to refinance its existing 3.800% Senior Notes due 2024 and a portion of its 5.000% Senior Notes due 2025. Additionally, funds will go towards repaying, repurchasing, or redeeming a portion of other outstanding debts and covering related fees and expenses.
The sale of the notes is anticipated to be finalized on March 20, 2024, contingent on customary closing conditions being met. The notes, along with related guarantees, are 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.
These notes and their related guarantees have not been registered under the Securities Act or any state securities laws and, therefore, cannot be offered or sold in the United States without registration or an exemption from registration requirements.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy the notes or any other security and is not an offer, solicitation, or sale in any jurisdiction or to any person where such offering, solicitation, or sale would be unlawful.
Xerox Holdings Corporation has been at the forefront of workplace innovation for over a century, evolving from a focus on office and production print technology to software and services that support today's hybrid work environments. The company continues to innovate, providing technology solutions and financial services essential for a global, distributed workforce.
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