Xerox Holdings Corporation prices $350,000,000 aggregate principal amount of 3.75% Convertible Senior Notes due 2030 (the "Notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act"). The size of the offering was increased by $50 million subsequent to the initial announcement of the offering. The Company also granted the initial purchasers of the Notes a 13-day option to purchase up to $50,000,000 aggregate principal amount of additional notes.
The Company intends to use the net proceeds from this offering to fund the cost of the capped call transactions described below, with any remaining net proceeds of the Notes, together with the net proceeds from the concurrent offering of 8.875% Senior Notes due 2029 of the Company which also priced today, to be used (i) to refinance all of its outstanding 3.800% Senior Notes due 2024 ("2024 Notes") and a portion of its 5.000% Senior Notes due 2025 ("2025 Notes"), (ii) to repay, repurchase or redeem a portion of its other outstanding indebtedness, (iii) to pay related fees and expenses and (iv) for general corporate purposes.