Convertibles Calendar: Xerox on deck

March 6

XEROX HOLDINGS CORP.

• $300 million six-year convertible notes

• $45 million greenshoe

• Coupon of 4% to 4.5% and initial conversion premium of 17.5% to 22.5%

• Rule 144A

• Citigroup Global Markets Inc.

• Non-callable until Sept. 20, 2027 and then subject to a 130% hurdle

• Proceeds to cover the cost of the call spread, to fund a tender offer for any and all of the company’s 3.8% senior notes due 2024 and a portion of the 5% senior notes due 2025 and for general corporate purposes

• Norwalk, Conn.-based supplier of print and digital document products and services

March 7 (Pre-open)

AVID BIOSERVICES INC.

• $160 million five-year convertible senior notes

• Proceeds to be used to repurchase for cash a portion of issuer’s 1.25% exchangeable senior notes due 2026 in privately negotiated transactions and to repay in full any remaining outstanding 2026 exchangeable notes

• Tustin, Calif.-based biologics contract development and manufacturing organization

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