8-KOther EventsExhibits & Filings

INTEL CORP 8-K Report, Corporate Update (Aug 14, 2017)

Filed August 14, 2017For Securities:INTC

Summary

Intel Corporation (INTC) filed an 8-K on August 14, 2017, to report the issuance of $640 million in aggregate principal amount of 4.10% Senior Notes due 2047. The offering, which was registered under a previously filed Form S-3, yielded net proceeds of approximately $638 million after deducting underwriting commissions and fees. This debt issuance is a standard financial activity for a company of Intel's size, likely aimed at managing its capital structure, funding ongoing operations, or supporting strategic initiatives. Investors should note that the proceeds from this debt offering are not earmarked for a specific announced use in this filing, but the long-term nature of the notes (30-year maturity) suggests a strategic financial management approach. The filing also details the various indentures and agreements governing the issuance, providing transparency on the terms of the debt, and includes exhibits such as the subscription agreement and the form of the senior note. The Chief Financial Officer, Robert H. Swan, signed off on the filing.

Key Highlights

  • 1Intel Corporation issued $640 million in 4.10% Senior Notes due 2047.
  • 2Net proceeds from the offering are approximately $638 million.
  • 3The debt issuance is registered under Intel's existing Form S-3 registration statement.
  • 4The Notes were issued pursuant to specific subscription and indenture agreements.
  • 5The filing includes key legal documents as exhibits, such as the Subscription Agreement and the Eleventh Supplemental Indenture.
  • 6The filing was signed by Robert H. Swan, Executive Vice President and Chief Financial Officer.

Frequently Asked Questions

This 8-K filing does not specify the exact use of proceeds. However, companies typically issue debt to fund capital expenditures, research and development, acquisitions, share repurchases, or to refinance existing debt. For Intel, this issuance likely supports its ongoing operational needs and strategic investments.

The aggregate principal amount is $640 million, with a fixed coupon rate of 4.10% per annum, and the notes mature in 2047. The specific covenants and terms are detailed within the referenced Base Indenture, First Supplemental Indenture, and the Eleventh Supplemental Indenture.

Intel received approximately $638 million in net proceeds after accounting for underwriting commissions and structuring fees, but before deducting other expenses associated with the offering.

This issuance is governed by Intel's existing debt framework. The notes were issued under the Base Indenture dated March 29, 2006, as supplemented by the First Supplemental Indenture (December 3, 2007) and further supplemented by the Eleventh Supplemental Indenture (August 14, 2017) which specifically covers these 2047 notes.