The Firm recently represented Xerox Corporation in its offering of $2 billion of debt securities, consisting of $1 billion of 4.250% Senior Notes due 2015, $650 million of 5.625% Senior Notes due 2019 and $350 million of 6.750% Senior Notes due 2039.
Xerox will use the net proceeds from the offering to repay the senior credit facility of Affiliated Computer Services, Inc. (“ACS”) upon completion of its acquisition of ACS and to fund a portion of the cash consideration for the acquisition.
Xerox is a $17.6 billion technology and services enterprise and a leader in the global document market. It develops, manufactures, markets, services and finances a complete range of document equipment, software, solutions and services. ACS is a provider of business process outsourcing and information technology services and solutions to commercial and government clients worldwide.
The Simpson Thacher team for the transaction included Vince Pagano, Simone Bono, Aleksander Janiszewski and Kuang-Wei Chueh (Capital Markets), Steven Todrys, Jonathan Cantor, Jason R. Vollbracht and Andrew Purcell (Tax), Adeeb Fadil (Environmental), Beth Understahl and Jennifer Pepin (Executive Compensation and Employee Benefits), Ihsan Dogramaci (Litigation) and Mindy Lok and Genevieve Dorment (Intellectual Property).