XEROX CORP: debt financing — Xerox completes $800M notes offering to redeem 2025 notes and fund Lexmark acquisition

XEROX CORP

Issued $400M of 10.250% Senior Secured First Lien Notes due 2030 and $400M of 13.500% Senior Secured Second Lien Notes due 2031.
Net proceeds from First Lien Notes used to redeem $90M of 5.000% Senior Notes due 2025 and repay $95M term loan.
Second Lien Notes proceeds to partially fund the Lexmark acquisition and repay Lexmark's outstanding debt.
First Lien Notes secured on first-priority basis by fixed asset collateral; Second Lien Notes escrowed pending Lexmark closing.
If Lexmark acquisition not consummated by Dec 22, 2025, Second Lien Notes subject to special mandatory redemption at 100% plus interest.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

XEROX CORP incurred senior notes of $400,000,000 with U.S. Bank Trust Company, National Association at 10.250% maturing 2030.

Instrument: senior notes
Principal: $400,000,000
Counterparty: U.S. Bank Trust Company, National Association
Rate: 10.250%
Maturity: 2030
Event: incurrence

Exact text from the filing

Xerox Corporation and Xerox Issuer Corporation, a wholly-owned subsidiary of Xerox Corporation (“Escrow Issuer”), completed their previously announced private offering of (i) $400,000,000 aggregate principal amount of 10.250% Senior Secured First Lien Notes due 2030 (the “First Lien Notes”) issued by Xerox Corporation

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

XEROX CORP incurred senior notes of $400,000,000 with U.S. Bank Trust Company, National Association at 13.500% maturing 2031.

Instrument: senior notes
Principal: $400,000,000
Counterparty: U.S. Bank Trust Company, National Association
Rate: 13.500%
Maturity: 2031
Event: incurrence

Exact text from the filing

(ii) $400,000,000 aggregate principal amount of 13.500% Senior Secured Second Lien Notes due 2031 (the “Second Lien Notes” and together with the First Lien Notes, the “Notes”) issued by the Escrow Issuer.

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Source: SEC EDGAR

accession 0001193125-25-079163

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