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Xerox Announces Tender Offers for 2024 Notes and 2025 Notes
NORWALK, Conn.--(BUSINESS WIRE)-- Xerox Holdings Corporation (NASDAQ: XRX) (“Xerox Holdings”) today announced the commencement of tender offers, subject to
About this update from Xerox Holdings Corporation
[{"type":"text","content":" NORWALK, Conn.--(BUSINESS WIRE)--\nXerox Holdings Corporation (NASDAQ: XRX) (“Xerox Holdings”) today announced the commencement of tender offers, subject to the terms and conditions described below, to purchase for cash the debt securities issued by Xerox Corporation (“Xerox,” and together with Xerox Holdings, the “Company”) and Xerox Holdings listed in the table below (collectively, the \"Securities\" and each a \"series\"). Concurrently with the commencement of the tender offers, the Company also announced that it is offering, subject to market conditions, $400 million in aggregate principal amount of Senior Notes due 2029 (the “New Notes”).\n\n\n\n\nTitle of\nSecurity\n\n\n\n\n\n\nCUSIP Number\n\n\n\n\n\n\nPrincipal\nAmount\nOutstanding\n\n\n\n\n\n\nU.S. Treasury\nReference\nSecurity\n\n\n\n\n\n\nBloomberg\nReference Page\n\n\n\n\n\n\nFixed\nSpread\n\n\n\n\n\n\nEarly Tender\nPayment(1)(2)\n\n\n\n\n\n\nMaximum\nTender Cap\n\n\n\n\n\n\n\n\n3.800% senior notes due 2024\n\n\n\n\n\n\n984121 CJO\n\n\n\n\n\n\n$300,000,000\n\n\n\n\n\n\nUST 0.250% due 05/15/2024\n\n\n\n\n\n\nFIT3\n\n\n\n\n\n\n+0 bps\n\n\n\n\n\n\n$30\n\n\n\n\n\n\nN/A\n\n\n\n\n\n\n\n\n5.000% senior notes due 2025\n\n\n\n\n\n\n98421 MAA4; U98401 AA7\n\n\n\n\n\n\n$750,000,000\n\n\n\n\n\n\nUST 2.000% due 08/15/2025\n\n\n\n\n\n\nFIT4\n\n\n\n\n\n\n+85 bps\n\n\n\n\n\n\n$30\n\n\n\n\n\n\n$94,000,000\n\n\n\n\n\n\n\n\n(1) Per $1,000 amount.\n\n\n\n\n\n\n\n(2) The Total Consideration for Securities validly tendered prior to or at the Early Tender Date (as defined below) and accepted for purchase is calculated using the applicable Fixed Spread and is inclusive of the Early Tender Payment.\n\n\nSubject to the terms and conditions set forth in the offer to purchase, dated March 4, 2024 (as it may be amended or supplemented from time to time, the \"Offer to Purchase\"), (a) Holdings is offering to purchase for cash an aggregate principal amount of its 5.000% senior notes due 2025 (the “2025 Notes”) up to $94 million (such cap, the “Maximum Tender Cap”) (the “Maximum Tender Offer”) and (b) Xerox is offering to purchase for cash any and all of its 3.800% senior notes due 2024 (the “2024 Notes”) (the “Any and All Tender Offer” and, together with the Maximum Tender Offer, the “Tender Offers”). Holdings reserves the right, but is under no obligation, to increase the Maximum Tender Cap wit...