Dell Technologies units market twofold guaranteed senior note sale

Chicago, Jan. 9 – Dell Technologies Inc. subsidiaries Dell International LLC and EMC Corp. are in the investment-grade bond market on Monday with two new senior notes, according to a 424B3 filing with the Securities and Exchange Commission.

As with previous offerings, the notes will be guaranteed by the company and its subsidiaries Denali Intermediate Inc. and Dell Inc.

Both notes will have make-whole call options followed by par call options.

The notes will include a change-of-control put at 101.

Barclays, BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are working as joint bookrunners.

Bank of New York Mellon Trust Co., NA is the trustee.

Simpson Thacher & Bartlett LLP is advising the issuer. Cahill Gordon & Reindel LLP is working as counsel for the underwriters.

Proceeds will be used to repay the 5.45% senior notes due 2023 with any remaining proceeds used for general corporate purposes, including the repayment of other debt.

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

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