Xerox Holdings Corp. (XRX) said Monday it is planning a $400 million offering of five-year bonds and $400 million of eight-year bonds, joining the many companies raising funds by issuing bonds during the coronavirus pandemic. Proceeds will be used to repay at maturity $362 million of 3.500% note due 2020 and $376 million of 2.750% notes due 2020, issued by Xerox Corp. The rest of the proceeds will be used for general corporate purposes. Xerox shares were slightly higher premarket, but have fallen 55% in the year to date, while the S&P 500 has gained 1.3%.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 03, 2020 07:37 ET (11:37 GMT)
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