To buy EMC, Dell is about to offer $20 billion in secured debt, one of the biggest bond offerings ever
Tony Avelar/AP Images for Dell Inc.
It will be selling $20 billion worth of bonds in a 6-part deal, CNBC reports. Yields on some of the bonds could be around 6.5%, reports the Wall Street Journal's Sam Goldfarb. Maturity rates are expected to range from 3-30 years as well as three-year and five-year floating-rate bonds.
Once the two tech giants merge, the new company will be called Dell Technologies. It will remain private and won't sell stock. So investors are lining up to buy these bonds, and word is that the company received more than $60 billion in orders for them, reports the Chicago Tribune.
That's a lot of demand for what was already expected to be a huge bond sale. The WSJ previously reported that Dell could sell at least $16 billion of secured bonds, which would rank it among the top ten biggest bond offerings of all time, reports the WSJ's Goldfarb.
NOW WATCH: A man programmed his bookcase to play Tetris
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh