Dell Technologies raises $4B in senior notes across four tranches

Dell Technologies Inc.

Issued $1B each of 4.750% notes due 2028, 5.000% due 2030, 5.300% due 2032, 5.500% due 2035.
Offering prices: 99.981% (2028), 99.834% (2030), 99.907% (2032), 99.681% (2035).
Notes guaranteed on unsecured basis by Dell Technologies, Denali Intermediate, and Dell Inc.
Proceeds for general corporate purposes, including potential debt repayment.
Closing expected April 1, 2025; underwriting led by BofA, Citi, Goldman Sachs, HSBC, JPMorgan, Wells Fargo.

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