Xerox is looking to find a buyer to help pay its $16.4 billion in debt. Earlier this week, Xerox's chairman, Paul A. Allaire, said the company could raise $2 billion to $4 billion from sales of some of its assets. But so far, it has made only one major divestiture, selling its operations in Hong Kong and China to the joint venture Fuji Xerox for $550 million in December. Xerox owns half of Fuji Xerox; the other half is owned by Fuji Photo Film. Although Xerox has $1.4 billion in cash on hand, it faces a huge debt. The company has exhausted a $7 billion line of credit and must start repaying that debt next year. It has $2.7 billion in debt coming due this year. While Xerox will not divulge its debt commitments beyond this year, an analyst who followed the company said it had $1.9 billion more due next year. Whether the entire company is on the block remains uncertain, and analysts doubt that a buyer would be willing to take on Xerox's debt.