Dell subsidiaries raise USD 5 billion in senior notes offering

Dell subsidiaries Dell International and EMC priced a $5 billion offering of senior notes across four maturities.

• $1.25 billion 5.1% Senior Notes due 2029
• $1.25 billion 5.4% Senior Notes due 2031
• $1.5 billion 5.6% Senior Notes due 2033
• $1 billion 5.9% Senior Notes due 2037

The notes are senior unsecured obligations, guaranteed jointly by Dell, Denali Intermediate and Dell Inc.

A change-of-control trigger gives holders a put at 101% of principal, plus accrued interest.