Xerox Prices Upsized Convertible Notes Offering Of $350M 3.75% Convertible Senior Notes Due 2030
Portfolio Pulse from Benzinga Newsdesk
Xerox Holdings Corporation has upsized its offering of 3.75% Convertible Senior Notes due 2030 to $350 million, an increase of $50 million from the initial announcement. The proceeds will fund capped call transactions, refinance existing senior notes due in 2024 and 2025, repay other debts, and cover related fees and general corporate purposes.

March 07, 2024 | 7:10 am
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Xerox Holdings Corporation has increased its convertible notes offering to $350 million, indicating a strategic move to refinance debt and support corporate activities.
The upsizing of the convertible notes offering by Xerox suggests a proactive approach to managing its debt and financing needs. This could be viewed positively by investors as it indicates the company's commitment to strengthening its balance sheet and ensuring financial flexibility. The use of proceeds for refinancing existing debt and for general corporate purposes could lead to improved financial metrics and potentially enhance shareholder value in the short term.
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