Dell Technologies said it entered into an underwriting agreement on March 26, 2025 with Dell International L.L.C., EMC Corporation and the guarantors, and with BofA Securities, Citigroup, Goldman Sachs, HSBC, J.P. Morgan and Wells Fargo as representatives of the underwriters.

1. 01

   Dell Technologies said it entered into an underwriting agreement on March 26, 2025 with Dell International L.L.C., EMC Corporation and the guarantors, and with BofA Securities, Citigroup, Goldman Sachs, HSBC, J.P. Morgan and Wells Fargo as representatives of the underwriters.

2. 02

   The company said the issuers agreed to issue and sell to the underwriters senior notes due 2028 at 4.750%, due 2030 at 5.000%, due 2032 at 5.300% and due 2035 at 5.500%, with an aggregate principal amount of $1,000,000,000.

3. 03

   Dell said the notes will be sold at a public offering price of 99.981% of principal amount for the 2028 notes, 99.834% for the 2030 notes, 99.907% for the 2032 notes and 99.681% for the 2035 notes. It said the notes will be guaranteed on a joint and several unsecured basis by the company, Denali Intermediate Inc. and Dell Inc.

4. 04

   The company said the closing of the note offering is expected to occur on April 1, 2025, subject to customary closing conditions. It said the issuers plan to use the net proceeds for general corporate purposes, which may include debt repayment.

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Original filing

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