Norwalk image and data equipment/software maker Xerox Corp. has completed a $1 billion offering of relatively cheaper debt so it can retire more expensive outstanding debt, a regulatory filing shows.
Xerox closed Wednesday on its $300 million offering of floating rate senior notes due 2014 and a $700 million offering of 4.5 percent senior notes due 2021, according to its Securities and Exchange Commission filing.
The company said 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.
