Xerox Canada to lend parent up to $300-million

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Xerox Canada to lend parent up to $300-million
The Canadian Press

Friday, October 03, 2008

TORONTO — — Xerox Canada Ltd. says it intends to lend its parent, Xerox Corp., to $300-million, with excess cash that's available to the Toronto-based subsidiary.

The loan, to mature on or before Dec. 15, 2009, would be on "commercially reasonable" terms even though it's a related-party transaction.

The actual amount of the loan would be reduced by an amount equal to whatever has already been lent to Xerox Corp. or its affiliates. Currently, that amount is $180-million.

Xerox Canada is a wholly owned subsidiary of the Connecticut-based copier company.

10/5/088:29 PM

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