17PT Barclays 24

RNS Number:8145N
Xerox Corp
27 November 2001


XEROX RAISES MORE THAN $1 BILLION THROUGH CONVERTIBLE TRUST PREFERRED SECURITIES
OFFERING

$1.3 Billion In U.S. And U.K. Financing Agreements With GE Capital Complete

STAMFORD, Conn., Nov. 27, 2001 - Xerox Corporation (NYSE: XRX) today announced 
that it has raised more than $1 billion through its convertible trust preferred 
securities offering, double the initial projections of $500 million. The company
received today the net proceeds from the sale.

In related news, Xerox confirmed that it has received the previously announced 
financing from GE Capital, including $835 million secured by portions of Xerox's
lease receivables in the U.S., and $450 million secured by receivables in the 
U.K.

"The completion of these financing arrangements is further evidence of Xerox's 
strengthened financial position and the building confidence in Xerox's 
turnaround and return to profitability," said Barry D. Romeril, Xerox vice 
chairman and chief financial officer.

With the funding received in the past week and following the repayment of $1.1 
billion in debt that matured this quarter, Xerox's current cash position has 
increased to $3.6 billion, including $230 million in defeasance to guarantee the
dividend payments on the convertible trust preferred securities.


For additional information about The Document Company Xerox, please visit our 
Worldwide Web site at www.xerox.com/investor.

This release contains forward-looking statements and information relating to 
Xerox that are based on our beliefs as well as assumptions made by and 
information currently available to us. The words "anticipate," "believe," 
"estimate," "expect," "intend," "will" and similar expressions, as they relate 
to us, are intended to identify forward-looking statements. Actual results could
differ materially from those projected in such forward-looking statements. 
Information concerning certain factors that could cause actual results to differ
materially is included in the company's Form 10-Q for the quarter ended 
September 30, 2001.

XEROX(R), The Document Company(R) and the digital X(R) are trademarks of XEROX 
CORPORATION.

Barclays 24 (LSE:17PT)
Graphique Historique de l'Action
De Déc 2024 à Jan 2025

Barclays 24 (LSE:17PT)
Graphique Historique de l'Action
De Jan 2024 à Jan 2025