Xerox Holdings amends first-lien term loan agreement to permit debt exchange
XRX•Xerox Holdings and Xerox exchanged $173.68 million of 5.5% senior notes due 2028 for $121.09 million of 10.25% first-lien notes due 2030 and 3,872,062 common shares. The exchange left $382.46 million of the 2028 notes outstanding.
1. Debt exchange
On November 13, 2026, Xerox Holdings and Xerox exchanged $173.68 million of 5.5% senior notes due 2028. Holders received $121.09 million of Xerox’s 10.25% senior secured first-lien notes due 2030, along with 3,872,062 common shares; $382.46 million of the 2028 notes remained outstanding.
2. Loan agreement amendment
An amendment to the First Lien Term Loan Credit Agreement with administrative agent Jefferies Finance became effective and expressly permitted the exchange financing. It restricts additional debt or equity issuance by certain joint venture entities, and existing first-lien notes received the same covenant.
