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

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

 user 2009-12-21 at 10:43:56 am Views: 58
  • #23147

    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/