Dell issues $1B 5.400% notes due 2034 to refinance higher-coupon 2026 debt

Dell Technologies Inc.

Aggregate principal $1,000,000,000; notes priced at 99.802% of par.
Coupon 5.400% per annum, maturing 2034.
Guaranteed jointly and severally by Dell Technologies, Denali Intermediate, and Dell Inc.
Proceeds to redeem a portion of existing 6.020% Senior Notes due 2026.
Closing expected March 18, 2024.

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