Summary by Futu AI
Dell Technologies, through its subsidiaries Dell International L.L.C. and EMC Corporation, has announced the issuance of $1.5 billion in senior notes, divided into two tranches: $700 million at 4.350% due 2030 and $800 million at 4.850% due 2035. The offering is detailed in a prospectus supplement filed pursuant to Rule 424(b)(5) under the Securities Act. The net proceeds are intended for the redemption of outstanding 5.850% Senior Notes due 2025, with any remaining funds allocated for general corporate purposes. The notes, guaranteed by Dell Technologies and co-issuers, will pay semi-annual interest starting February 1, 2025, and are redeemable before their respective maturity dates at specified premiums. The offering, managed by a syndicate of underwriters led by Barclays, Citigroup, and Goldman Sachs & Co. LLC, is expected to close on October 8, 2024, with settlement based on a T+5 schedule.