Xerox Holdings Corporation Announces Increase in Maximum Tender Cap for 5.000% Senior Notes Due 2025
06 March 2024 - 8:52AM
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.
Citigroup Global Markets Inc. is the dealer manager for the
Tender Offers. Investors with questions regarding the Tender Offers
may contact Citigroup Global Markets Inc. at (800) 558-3745
(toll-free). Global Bondholder Services Corporation is the tender
and information agent for the Tender Offers and can be contacted at
(855) 654-2014 (toll-free) or (212) 430-3774 (collect).
The Tender Offers are being made solely by means of the Offer to
Purchase, as modified by this press release. This press release
shall not constitute an offer to purchase or a solicitation of an
offer to purchase any securities, nor shall it constitute an offer,
solicitation or sale of any securities in any state or jurisdiction
in which, or to any persons to whom, such offering, solicitation or
sale would be unlawful.
About Xerox Holdings Corporation (NASDAQ: XRX)
For more than 100 years, Xerox has continually redefined the
workplace experience. Harnessing our leadership position in office
and production print technology, we’ve expanded into software and
services to sustainably power the hybrid workplace of today and
tomorrow. Today, Xerox is continuing its legacy of innovation to
deliver client-centric and digitally-driven technology solutions
and meet the needs of today’s global, distributed workforce. From
the office to industrial environments, our differentiated business
and technology offerings and financial services are essential
workplace technology solutions that drive success for our clients.
At Xerox, we make work, work.
Forward-Looking Statements
This release and other written or oral statements made from time
to time by management contain “forward looking statements” as
defined in the Private Securities Litigation Reform Act of 1995.
The words “anticipate”, “believe”, “estimate”, “expect”, “intend”,
“will”, “should”, “targeting”, “projecting”, “driving” and similar
expressions, as they relate to us, our performance and/or our
technology, are intended to identify forward-looking statements.
These statements reflect management’s current beliefs, assumptions
and expectations and are subject to a number of factors that may
cause actual results to differ materially. Such factors include but
are not limited to: risks and uncertainties related to the
completion of the Tender Offers on the anticipated terms or at all,
applicable market conditions, the satisfaction of customary closing
conditions related to Tender Offers (including the financing
condition), global macroeconomic conditions, including inflation,
slower growth or recession, delays or disruptions in the global
supply chain, higher interest rates, and wars and other conflicts,
including the current conflict between Russia and Ukraine; our
ability to succeed in a competitive environment, including by
developing new products and service offerings and preserving our
existing products and market share as well as repositioning our
business in the face of customer preference, technological, and
other change, such as evolving return-to-office and hybrid working
trends; failure of our customers, vendors, and logistics partners
to perform their contractual obligations to us; our ability to
attract, train, and retain key personnel; execution risks around
our Reinvention; the risk of breaches of our security systems due
to cyber, malware, or other intentional attacks that could expose
us to liability, litigation, regulatory action or damage our
reputation; our ability to obtain adequate pricing for our products
and services and to maintain and improve our cost structure;
changes in economic and political conditions, trade protection
measures, licensing requirements, and tax laws in the United States
and in the foreign countries in which we do business; the risk that
multi-year contracts with governmental entities could be terminated
prior to the end of the contract term and that civil or criminal
penalties and administrative sanctions could be imposed on us if we
fail to comply with the terms of such contracts and applicable law;
interest rates, cost of borrowing, and access to credit markets;
risks related to our indebtedness; the imposition of new or
incremental trade protection measures such as tariffs and import or
export restrictions; funding requirements associated with our
employee pension and retiree health benefit plans; changes in
foreign currency exchange rates; the risk that our operations and
products may not comply with applicable worldwide regulatory
requirements, particularly environmental regulations and directives
and anticorruption laws; the outcome of litigation and regulatory
proceedings to which we may be a party; laws, regulations,
international agreements and other initiatives to limit greenhouse
gas emissions or relating to climate change, as well as the
physical effects of climate change; and other factors as set forth
from time to time in the company’s Securities and Exchange
Commission filings, including the company’s Annual Report on Form
10-K for the year ended December 31, 2023.
The company intends these forward-looking statements to speak
only as of the date of this release and does not undertake to
update or revise them as more information becomes available, except
as required by law.
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Xerox® is a trademark of Xerox in the United States and/or other
countries.
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version on businesswire.com: https://www.businesswire.com/news/home/20240305786171/en/
Media Contact: Justin Capella, Xerox, +1-203-258-6535,
Justin.Capella@xerox.com
Investor Contact: David Beckel, Xerox, +1-203-849-2318,
David.Beckel@xerox.com
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