XEROX NEEDS TO BORROW $2Billion TO PURCHASE A.C.S.

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XEROX NEEDS TO BORROW $2Billion TO PURCHASE A.C.S.

 user 2009-12-21 at 10:43:21 am Views: 45
  • #23167

    XEROX NEED TO BORROW $2Billion TO PURCHASE A.C.S.
    Xerox Selling $2 Billion In Bonds To Fund ACS Buy
    NEW YORK — Xerox Corp. is selling $2 billion in bonds on Tuesday, according to Informa Global Markets, to finance its acquisition of Affiliated Computer Services Inc. . The document-equipment provider said in a regulatory filing that the proceeds will repay all or a portion of ACS’s senior credit facility upon completion of the merger and any remaining amounts to fund part of the cash portion of the acquisition, which was announced in September. As of Sept. 30, ACS had approximately $1.8 billion outstanding under its senior credit facility. The deal will include debt maturing in 5 years, 10 years and 30 years, Informa said. Xerox shares rose 2.2%.
    http://www.foxbusiness.com/story/markets/industries/technology/xerox-selling–billion-bonds-fund-acs-buy/