*NEWS*XEROX NEEDS TO BORROW $ 1.25BILLION

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*NEWS*XEROX NEEDS TO BORROW $ 1.25BILLION

 user 2006-04-11 at 9:50:00 am Views: 91
  • #15250

    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.