The company says the planned swap would shrink its outstanding principal by about $53 million and leave more funds available to run the business.
The offer applies to about $174 million in senior notes due in 2028. The new notes offered in exchange would mature in 2030. The company also described preserving operating cash as an aim of the proposal.
In its third-quarter results, Xerox reported a $1.015 billion loss. It lowered its 2026 adjusted operating income forecast to $450 million to $475 million from $555 million to $605 million, and cut its free cash flow forecast to $50 million to $100 million from $250 million.
The quarter included a $959 million pretax, noncash goodwill impairment after Xerox lowered future cash-flow assumptions for its Print and Other reporting unit, citing economic uncertainty and higher memory costs. The board also suspended common and preferred dividends. EconoTimes previously covered the quarterly loss and outlook revisions.
