Summary
Dell Technologies Inc. has announced a significant debt offering through an Underwriting Agreement, intending to raise $1.5 billion by issuing new senior notes. Specifically, the company will issue $700 million in 4.350% Senior Notes due 2030 and $800 million in 4.850% Senior Notes due 2035. The offering is being conducted with a group of prominent underwriters, including Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, SG Americas Securities, LLC, and Wells Fargo Securities, LLC.
Key Highlights
- 1Dell Technologies Inc. is issuing $1.5 billion in aggregate principal amount of new senior notes.
- 2The new notes consist of $700 million of 4.350% Senior Notes due 2030 and $800 million of 4.850% Senior Notes due 2035.
- 3The proceeds from this offering are intended to be used to redeem the company's 5.850% Senior Notes due 2025.
- 4Any remaining proceeds after the redemption will be used for general corporate purposes, which may include repaying other debt.
- 5The offering is expected to close on October 8, 2024, subject to customary closing conditions.
- 6The new notes will be guaranteed on a joint and several unsecured basis by Dell Technologies Inc., Denali Intermediate, Inc., and Dell Inc.