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Xerox Holdings Corporation - Tender Offer 2024 (US) - Update

Xerox Holdings Corporation Announces Increase in Maximum Tender Cap for 5.000% Senior Notes Due 2025 - 984121CJO - 98421 MAA4 -U98401AA7
 

05 MARCH 2024


Full announcement including disclaimers and offer/distribution restrictions available via Businesswire


"NORWALK, Conn.--(BUSINESS WIRE)--Xerox Holdings Corporation (NASDAQ: XRX) today announced that it has increased the maximum principal amount of its $750 million aggregate principal amount outstanding of 5.000% Senior Notes due 2025 (the “2025 Notes”) that it can repurchase under its previously announced cash tender offer for the 2025 Notes (the “2025 Notes Tender Offer”) from $94 million to $362 million, on the terms and subject to the conditions set forth in the related Offer to Purchase dated March 4, 2024 (the “Offer to Purchase”). The terms of the previously announced cash tender offer by Xerox Corporation for its 3.800% senior notes due 2024 (the “2024 Notes Tender Offer” and, together with the 2025 Notes Tender Offer, the “Tender Offers”) remain unchanged.


The complete terms and conditions of the Tender Offers are set forth in the Offer to Purchase, as modified by this press release."


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Xerox Announces Tender Offers for 2024 Notes and 2025 Notes - 984121 CJO - 98421 MAA4 -U98401 AA7
 

04 MARCH 2024


Full announcement including disclaimers and offer/distribution restrictions available via Businesswire


NORWALK, Conn.--(BUSINESS WIRE)--Xerox 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”).

Title ofSecurity

CUSIP Number

PrincipalAmountOutstanding

U.S. TreasuryReferenceSecurity

BloombergReference Page

FixedSpread

Early TenderPayment(1)(2)

MaximumTender Cap

3.800% senior notes due 2024

984121 CJO

$300,000,000

UST 0.250% due 05/15/2024

FIT3

+0 bps

$30

N/A

5.000% senior notes due 2025

98421 MAA4; U98401 AA7

$750,000,000

UST 2.000% due 08/15/2025

FIT4

+85 bps

$30

$94,000,000

(1) Per $1,000 amount.

(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.


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