Latham & Watkins Advises on Xerox Corporation’s US$800 Million Senior Secured Notes Offering

Xerox Corporation has announced that it has priced an offering of (i) US$400,000,000 in aggregate principal amount of 10.250% Senior Secured First Lien Notes due 2030 (the First Lien Notes) to be issued by Xerox Corporation and guaranteed by Xerox Holdings Corporation (Xerox) and certain of Xerox’s domestic and foreign subsidiaries and (ii) US$400,000,000 in aggregate principal amount of 13.500% Senior Secured Second Lien Notes due 2031 (the Second Lien Notes and, together with the First Lien Notes, the Notes) to be issued by Xerox Issuer Corporation, a wholly owned subsidiary of Xerox Corporation. The Notes are expected to be issued on April 11, 2025, subject to the satisfaction or waiver of customary closing conditions.

Latham & Watkins LLP represented Jefferies as the initial purchaser in the offering with a capital markets team led by partners Marc Jaffe, Ian Schuman, and Andrew Baker, with associates Giulia Franzoso, Emma Fichtel, and Skye Lee, and a banking team led by partner Jesse Sheff and counsel Seung-Ju Paik, with associates Sharon Yin and Amishi Magdani. Advice was also provided on tax matters by partner Bora Bozkurt, with associate Michael Yu.