Xerox agreement with GE Capital to transform balance sheet
GE Captial and Xerox Corporation have signed a ‘framework agreement’ for GE Capital’s Vendor Financial Services to become the primary equipment financing provider for Xerox customers in the US. By transitioning equipment finance to a third party, Xerox says it will elimate substantial debt and transform its balance sheet.
Further improving Xerox’s liquidity, the two companies have also agreed to the principal terms of a financing arrangement under which Xerox will receive from GE Capital around $1 billion secured by portions of Xerox’s lease receivables in the US.
13-Sep-2001
