Dell Technologies ‘committed’ to paying down $4.8 billion debt in 2020

By Wendy Van Sickle

Columbus, Ohio, March 21 – Dell Technologies Inc. “remains committed to paying down $4.8 billion in debt in fiscal year 2020,” the company said in a press release Thursday that also announced completion of some previously announced refinancing transactions.

The company said it closed its $4.5 billion issuance of first-lien notes in three parts, as well as its term loan A-6 and incremental margin loans under its existing margin loan facility.

Proceeds of these transactions were used to pay down the $3.75 billion of first-lien notes due in June and the $2 billion term loan A-5 bridge loan issued to partially fund Dell’s previously completed class V transaction. Remaining proceeds will be used to pay down debt under the company’s senior secured credit facilities.

Dell said it does not expect these refinancing transactions to have any material impact on its total amount of outstanding debt.

“These transactions will enable the company to use free cash flow generation and cash on the balance sheet to repay longer-dated debt and smooth out maturity dates over time,” the company said in the release.

Dell is a Round Rock, Texas-based technology company.

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