Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Dell Announces Pricing of Private Offerings by Dell International and EMC Corporation
Dell Technologies Inc. recently announced the pricing of the previously announced private offering by two of its wholly owned subsidiaries, Dell International LLC and EMC Corporation, as co-issuers of $1 billion aggregate principal amount of 3.375 percent senior notes due 2041 and $1.25 billion aggregate principal amount of 3.45 percent senior notes due 2051.
The 2041 notes will mature on December 15, 2041 while the 2051 notes will mature on December 15, 2051. Denali Intermediate Inc. and Dell Inc. will guarantee the notes. The offering is expected to close on December 13, 2021, subject to customary closing conditions.
The net proceeds from the offering of the notes are intended to be used to fund the repurchase of certain existing notes of its subsidiaries pursuant to certain tender offers being conducted by Dell Inc., a wholly owned subsidiary of the company. Any remaining proceeds not used to repurchase such existing notes in such tender offers will be used for general corporate purposes including the repayment of debt.
