Xerox to pay convertible put in cash

New York, March 21 - Xerox Corp. said it will pay the upcoming put on its convertible subordinated debentures due April 21, 2018 in cash.

The Stamford, Conn. copier company said that if all the convertibles are put back to the company it will have to pay a total of $560 million.

The put date is April 21, 2003.

Under the terms of the convertibles, Xerox can choose to pay the put in cash, stock or a combination.

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