Dell Technologies units offer guaranteed senior notes due 2041, 2051

By Devika Patel and Cristal Cody

Knoxville, Tenn., Dec. 6 – Dell Technologies Inc. subsidiaries Dell International LLC and EMC Corp. plan to offer guaranteed senior notes in two tranches in a Rule 144A and Regulation S offering, according to a market source and additional details from a press release.

The notes will be guaranteed by the company and its subsidiaries Denali Intermediate Inc. and Dell Inc.

A tranche of notes due Dec. 15, 2041 is talked to yield in the Treasuries plus 187.5 basis points area.

A tranche of notes due Dec. 15, 2051 is talked in the 200 bps area over Treasuries.

Bookrunners are BofA Securities Inc., Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Wells Fargo Securities LLC.

Proceeds will be used to repurchase some of Dell’s subsidiaries’ notes in tender offers.

The computer and software company is based in Round Rock, Tex.

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