Xerox Holdings Corporation Announces Closing of Senior Notes Offering

Xerox Holdings Corporation (NASDAQ: XRX) (the “Company”) announced today the closing of its $500,000,000 aggregate principal amount of 8.875% Senior Notes due 2029 (the “Notes”) in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Act”) and non-U.S. persons outside the United States pursuant to Regulation S under the Act.

The Company intends to use the net proceeds from this offering, together with the net proceeds from the Company’s previously announced offering of its 3.750% Convertible Senior Notes due 2030, (i) to refinance all of its outstanding 3.800% Senior Notes due 2024 (“2024 Notes”) and $362,000,000 of its 5.000% Senior Notes due 2025 (“2025 Notes”), (ii) to repay, repurchase or redeem a portion of its other outstanding indebtedness and (iii) to pay related fees and expenses.

The Notes and the related guarantees are senior, unsecured obligations of the Company, and interest is payable semi-annually in arrears.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the Notes, the related guarantees or any other security, and shall not constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. In addition, this press release shall not constitute an offer to purchase or a solicitation of an offer to purchase the 2024 Notes or the 2025 Notes. Any tender offer will be made solely pursuant to an offer to purchase to the holders of the 2024 Notes and the 2025 Notes.

About Xerox Holdings Corporation (NASDAQ: XRX)
For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we’ve expanded into software and services to sustainably power the hybrid workplace of today and tomorrow. Today, Xerox is continuing its legacy of innovation to deliver client-centric and digitally-driven technology solutions and meet the needs of today’s global, distributed workforce. From the office to industrial environments, our differentiated business and technology offerings and financial services are essential workplace technology solutions that drive success for our clients. At Xerox, we make work, work.