04:24 PM EDT, 03/20/2024 (MT Newswires) -- Xerox (XRX) closed a $500 million private placement of 8.875% senior notes due 2029, the company said Wednesday.

Proceeds from the sale, as well as those from the previously announced offering of 3.75% convertible senior notes due 2030, will be used to refinance the company's 3.8% senior notes due 2024 and $362 million of its 5.0% senior notes due 2025.