Reported Earlier, Xerox Prices Upsized Senior Notes Offering Of $500M 8.875% Senior Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
Xerox Holdings Corporation (NASDAQ:XRX) has successfully priced an upsized offering of $500 million in 8.875% Senior Notes due 2029, an increase of $100 million from the initial announcement. The proceeds will be used to refinance existing debts, including all outstanding 3.800% Senior Notes due 2024 and a portion of 5.000% Senior Notes due 2025, as well as to repay, repurchase, or redeem other outstanding debts and cover related fees and expenses.
March 07, 2024 | 7:06 am
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Xerox Holdings Corporation has upsized its senior notes offering to $500 million at 8.875% due 2029, planning to use the proceeds for debt refinancing and related expenses.
The upsizing of the senior notes offering by Xerox indicates a strong demand from investors, which is a positive signal for the company's creditworthiness. Refinancing higher-cost debt with lower-cost options can improve the company's financial health by reducing interest expenses. This strategic financial maneuver is likely to be viewed positively by investors, potentially leading to a short-term positive impact on XRX's stock price.
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