Xerox Raises $746 Million Through Senior Note Offering

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Xerox Raises $746 Million Through Senior Note Offering

Friday, January 18, 2002

Press release from the issuing company

STAMFORD, Conn.--Jan. 17, 2002--Xerox confirmed today that it has raised $746 million through an unregistered offering in the U.S. and Europe of 9.75 percent Senior Notes due in 2009. The sale exceeds initial projections of $500 million. The company received today the net proceeds from the sale, which includes US$559 million and EUR 209 million. With this funding and following the repayment of $1.2 billion in debt that matured in the fourth quarter, Xerox's cash position has increased to approximately $4.6 billion.

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