Xerox Swaps $174M of 2028 Notes for 2030 Debt and Equity
Norwalk, Conn. – October 30, 2026 -- Xerox Holdings Corporation (NASDAQ: XRX) has launched an exchange transaction covering about $174 million of its senior notes due 2028, which will cut total debt principal by roughly $53 million and push $121 million of maturities out to 2030.
Exchange covers more than 30% of outstanding 2028 Notes
The deal addresses more than 30% of the 2028 Notes still outstanding, following open market purchases earlier this year. CFO Chuck Butler said the company is moving to "proactively address our upcoming maturities" while preserving liquidity to support the business.
Ad hoc first lien group anchors the transaction
An ad hoc group of first lien lenders anchors the exchange. Holders of the 2028 Notes will receive newly issued first lien senior secured notes due October 2030 from Xerox Corporation, plus Xerox common stock.