Xerox Corporation (NYSE:XRX) Plans To Early Redeem $300M In Debt- Seacor Holdings (NYSE:CKH)

Xerox Corporation (NYSE:XRX) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it -0.67% to close at $7.39 with the total traded volume of 9.72 Million shares. Xerox (XRX) reported that it plans to early redeem (retire) $300 million in debt. Additionally, Xerox is targeting to exchange $300 million or more of existing debt for new debt. This is consistent with Xerox’s capital allocation guidance to reduce $300 million in debt above the $1 billion in senior notes coming due this year.

The exchange of $300 million of existing debt for new debt will also help to optimize Xerox’s capital structure by smoothing out and lengthening its debt maturity ladder. Below are the details of the transaction.

Xerox is commencing private offers to exchange certain outstanding notes listed in the table below, which Xerox refers to collectively as the “existing notes.”

If $600 million principal amount or more of existing notes are tendered as of the early participation date, Xerox will purchase and exchange tendered existing notes for $300 million of cash (exclusive of premiums to par, if any, and accrued and unpaid interest that also will be paid in cash) and $300 million aggregate principal amount of new notes due March 17, 2022. The firm has institutional ownership of 85.40%, while insider ownership included 0.30%. Its price to sales ratio ended at 0.69. XRX attains analyst recommendation of 2.10 with week’s performance of -0.94%.

Seacor Holdings Inc. (NYSE:CKH) [Trend Analysis] try to make new thrust in street and making different trends, stocks trading ended with 4.07% to $71.65. SEACOR Holdings Inc. (NYSE:CKH) declared that it will delay the release of results for its fourth quarter and year ended December 31, 2016.

The Company has not yet completed its assessment of the effectiveness of its internal controls over financial reporting as of December 31, 2016 due to certain control deficiencies identified related to impairment determinations and the approval of manual journal entries. Although the Company has not concluded its assessment of the effectiveness of its internal control over financial reporting, it believes that these deficiencies could represent material weaknesses in its internal control over financial reporting.

The Company does not, however, believe that this evaluation will impact its previously declared consolidated financial statements. The share price of CKH attracts active investors, as stock price of week volatility recorded 2.51%. The stock is going forward to its 52-week low with 57.52% and lagging behind from its 52-week high price with -6.12%.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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