Summary by Futu AI
Intel Corporation has announced the issuance of three sets of senior notes on February 15, 2024, with an expected settlement date of February 21, 2024. The notes, which are SEC registered, include $500 million at 5.000% due 2031, $900 million at 5.150% due 2034, and $1.15 billion at 5.600% due 2054. The proceeds from the sale are intended for general corporate purposes, such as refinancing outstanding debt, working capital, and capital expenditures. The notes will pay interest semi-annually starting August 21, 2024, and are priced close to their principal amount. The offering is managed by a syndicate of banks, including BofA Securities, Citigroup Global Markets, and others, with additional co-managers involved in the transaction. The notes are anticipated to have ratings of A3 by Moody's and A- by S&P and Fitch.