Dell Technologies Reports $4.5 Billion Senior Notes Offering
Summary
On September 22, 2025, Dell Technologies Inc., Dell International L.L.C., and EMC Corporation (the "Issuers") entered into an underwriting agreement with a syndicate of underwriters, including Barclays Capital Inc. and Goldman Sachs & Co. LLC. The Issuers agreed to issue and sell an aggregate principal amount of $4.5 billion in senior notes across four tranches. The net proceeds are intended to redeem a portion of their outstanding 6.020% Senior Notes due 2026, with any remainder for general corporate purposes, potentially including other debt repayment. The closing of the offering is expected on October 6, 2025. - $750,000,000 of 4.150% Senior Notes due 2029 - $1,250,000,000 of 4.500% Senior Notes due 2031 - $1,250,000,000 of 4.750% Senior Notes due 2032 - $1,250,000,000 of 5.100% Senior Notes due 2036
Why It Matters
This significant $4.5 billion debt offering is material as it represents a substantial refinancing effort, impacting Dell Technologies' capital structure and future interest expenses by replacing existing debt with new senior notes.
Key Quote
“100% Senior Notes due 2036 (the "2036 Notes" and, together with the 2029 Notes, the 2031 Notes and the 2032 Notes, the "Notes"), in accordance with the terms and conditions set forth in the Underwriting Agreement.”
— From Item 8.01
Filing Details
Reported Items
Additional Information
- CIK Number
- 0001571996
- Filing Date
- Tuesday, September 23, 2025
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- neutral