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Xerox Announces Offers to Exchange Outstanding Notes

Xerox (NYSE:XRX) announced today that it plans to early redeem (retire) $300 million in debt. Additionally, Xerox is targeting to exchange $300 million or more of existing debt for new debt. This is consistent with Xerox's capital allocation guidance to reduce $300 million in debt above the $1 billion in senior notes coming due this year. The exchange of $300 million of existing debt for new debt will also help to optimize Xerox's capital structure by smoothing out and lengthening its debt matur

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