XEROX NEEDS TO BORROW $ 1.25BILLION

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XEROX NEEDS TO BORROW $ 1.25BILLION

 user 2006-04-11 at 9:52:00 am Views: 66
  • #15030

    Xerox signs $1.25 billion credit facility
    April  2006
    Xerox
    Corp. Friday entered into a $1.25 billion unsecured revolving loan
    credit facility, replacing a $1 billion credit facility the document
    maker entered into in 2003.

    The
    company has yet to borrow on the credit facility, but plans to draw
    down some $50 million in the next several days, documents filed with
    the Securities & Exchange Commission state.
    The new credit
    facility includes a $200 million letter of credit subfacility with
    affiliates of Citibank N.A. and JPMorgan Chase Bank N.A. It also
    includes an accordion feature, which allows the company to increase the
    size to $2 billion.
    The facility matures on April 7, 2011, although a one-year extension can be requested.