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Dell Technologies | 8-K: Current report

SEC announcement ·  Mar 18 16:37
Summary by Moomoo AI
On March 18, 2024, Dell Technologies Inc. announced the completion of a public offering of $1 billion in senior notes by its wholly-owned subsidiaries, Dell International L.L.C. and EMC Corporation. The 5.400% Senior Notes, due in 2034, were issued under a shelf registration statement and are guaranteed by Dell Technologies and its subsidiaries, Denali Intermediate Inc. and Dell Inc. The notes are senior unsecured obligations, ranking equally with other senior indebtedness and above subordinated indebtedness. Interest on the notes will accrue at 5.400% per annum, payable semi-annually, with the first payment due on October 15, 2024. The notes can be redeemed before maturity at a make-whole premium or at par after January 15, 2034. Additionally, in the event of a change of control, note holders...Show More
On March 18, 2024, Dell Technologies Inc. announced the completion of a public offering of $1 billion in senior notes by its wholly-owned subsidiaries, Dell International L.L.C. and EMC Corporation. The 5.400% Senior Notes, due in 2034, were issued under a shelf registration statement and are guaranteed by Dell Technologies and its subsidiaries, Denali Intermediate Inc. and Dell Inc. The notes are senior unsecured obligations, ranking equally with other senior indebtedness and above subordinated indebtedness. Interest on the notes will accrue at 5.400% per annum, payable semi-annually, with the first payment due on October 15, 2024. The notes can be redeemed before maturity at a make-whole premium or at par after January 15, 2034. Additionally, in the event of a change of control, note holders may require the issuers to repurchase their notes at 101% of the principal amount. The indenture includes covenants limiting the issuers' ability to secure debt, merge, sell assets, and enter into sale and leaseback transactions. The completion of this offering creates a direct financial obligation for Dell Technologies as detailed in the Form 8-K filed with the SEC.
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