Xerox to offer senior unsecured notes

AP News
Posted: Dec 01, 2009 12:45 PM

Xerox Corp. said Tuesday it will raise funds by offering senior unsecured notes and put the proceeds toward its purchase of Affiliated Computer Services Inc.

Details about the notes' value was not disclosed.

Xerox had said in September that it agreed to buy ACS in a $6.4 billion cash and stock deal.

Xerox makes copiers and printers and offers document management services, while ACS completes tasks for other companies like managing payroll or running health care plans.

Xerox shares rose 13 cents to $7.83. ACS shares rose 82 cents to $56.02.