Jeffries and Citi Still Cannot Offload this Debt as of this Post! Xerox loaded up on debt- the bridge loan .. and despite 2 weeks plus of trying to find another buyer of the leveraged debt deal.. now what?
Clearly Xerox cannot afford the ballon bridge loan long term.. and all it’s other debt has been downgraded big time (to ba3-3 notches below junk)
Who is the first seller to get out? Darwin Deason, Blackrock, Vanguard , or the divvy retirees.. or all of the above.
Citi and Jeffries want out of the bridge loan, and will likely find a short play to hedge their foolish bet. XRX can’t unload the bridge debt to any lender- and if we get a overall correction/sell-off I predict only bad scenarios the new lender might mandate to x aka cut the divvy, which is the only,, repeat only reason anyone owns this pathetic company!