Xerox Receives A Boost From Earnings, Agreement

  • 27 Oct 2002
Email a colleague
Request a PDF

Xerox's bank debt saw a flurry of activity last week, surging roughly five points. One trader said the company's stronger earnings, spearheaded by $611 million in operating cash flow for the third quarter, caused the rally. Traders noted that the company's revolver was trading in the 71-73 range and its "A" term loan in the 83-85 range. Xerox's "B" piece was quoted in the mid-90s, according to LoanX.

News that Xerox had secured an eight-year agreement with General Electric also gave its bank debt a boost. The agreement provides that GE Vendor Financial Services would become the primary equipment financier for Xerox customers. In turn, Xerox secured an additional $5 billion of funding over the life of the agreement. Calls to Xerox were not returned by press time.

  • 27 Oct 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,237 10 19.12
2 Goldman Sachs 2,096 5 12.39
3 Morgan Stanley 1,965 5 11.61
4 BNP Paribas 1,686 6 9.96
5 Barclays 1,565 4 9.25

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 30,859.27 98 11.48%
2 JPMorgan 25,558.51 72 9.51%
3 Wells Fargo Securities 24,627.51 67 9.16%
4 Bank of America Merrill Lynch 23,023.30 73 8.56%
5 Barclays 16,546.45 55 6.16%