Xerox Closes on $1 Billion of Senior Unsecured Notes

Xerox Corporation XRX closed today on a $300 million offering of floating rate senior unsecured notes due in 2014 and a $700 million offering of 4.5 percent senior unsecured notes due in 2021. Net proceeds from the offering will be used to repay $650 million of 8 percent trust preferred securities due 2027 called on April 21 and payable on May 23, and for general corporate purposes.