FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / News / Read News

Print

JPMorgan Chase, Others Arrange $1B Financing for Xerox

March 07, 2016, 08:07 AM
Filed Under: Industry News

Xerox Corporation announced that it has closed a $1 billion senior unsecured term loan, to be drawn by April 1, 2016. The loan was arranged by a syndicate of seven banks: JPMorgan Chase Bank, N.A.; Merrill Lynch, Pierce, Fenner & Smith Incorporated; BNP Paribas Securities Corp.; Citigroup Global Markets Inc.; Credit Suisse Securities (USA) LLC; Goldman Sachs Bank USA and Mizuho Bank, Ltd.

The loan must be repaid on the earlier of 364 days or upon receipt of financing related to the separation of Xerox into two independent publicly traded companies. Initial pricing, which is based upon a ratings grid, will be 150bps above LIBOR.

Xerox intends to use the proceeds from the loan to repay maturing bonds and for general corporate purposes.





Week's News



Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.