Xerox Expects Completion of Revolver Negotiations by End of June
Press release from the issuing company
STAMFORD, Conn.--April 18, 2002--Xerox Corporation confirmed today that significant progress has been made in the company's negotiations with its revolver lenders.
Responding to media speculation about Xerox's liquidity, Xerox reiterated that the principal terms and conditions for refinancing a portion of the revolver and extending its maturity beyond October 2002 have been distributed to the 57 lenders in the revolver. Following the approval from these lenders as well as the negotiation and execution of the definitive agreements, the refinancing is expected to be completed no later than the end of June.
Xerox today also reported a current worldwide cash balance of $4.7 billion.
WhatTheyThink is the global printing industry's go-to information source with both print and digital offerings, including WhatTheyThink.com, WhatTheyThink Email Newsletters, and the WhatTheyThink magazine. Our mission is to inform, educate, and inspire the industry. We provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today's printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.