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.
Dell is finally sharing details about the massive debt offering it will offer in order to finance its $65 billion acquisition of EMC.
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.
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