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Xerox Corp. (XRX) Enters Agreement for $550M Credit Facility
November 27, 2023
Source: StreetInsider
On November 17, 2023 (the “Closing Date”), Xerox Corporation (“Xerox”), as borrower, its parent company, Xerox Holdings Corporation (the “Company”), and certain subsidiaries of Xerox entered into a first lien term loan credit agreement (the “Credit Agreement”) with Jefferies Finance LLC, as administrative agent and collateral agent (the “Agent”) and the lenders party thereto (the “Lenders”), providing for a first lien senior secured term loan credit facility (the “TLB”) of $550.0 million to be extended to Xerox on the Closing Date (the “Loans”). The proceeds of the Loans will be used to repay in full all outstanding bridge loans extended to Xerox under its bridge credit agreement, dated as of September 28, 2023, entered into with, among others, Jefferies Finance LLC, as administrative agent, and the lenders party thereto.
