Xerox to redeem some Affiliated Computer Services notes due to merger

By Susanna Moon

Chicago, Sept. 28 - Xerox Corp. will redeem some of Affiliated Computer Services, Inc.'s debt as a result of the companies' merger agreement reached on Sept. 27, according to an 8-K filing with the Securities and Exchange Commission.

The debt excludes Affiliated's 5.2% senior notes due 2015, 4.7% senior notes due 2010 and capitalized lease obligations.

Funding for the redemption will come from an unsecured bridge financing of up to $3 billion from JPMorgan Chase Bank, NA.

Affiliated Computer Services is a Dallas-based diversified business process outsourcing firm.

Norwalk, Conn.-based Xerox develops, markets and services document equipment and software.

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