Dell Technologies Announces $5.0 Billion Senior Notes Offering to Refinance Debt

Dell Technologies disclosed an underwriting agreement to issue and sell $5.0 billion in aggregate principal amount of new senior notes. The company intends to use the net proceeds primarily to repay existing debt, specifically its 4.900% First Lien Notes due 2026.

Key Details

• Offering Breakdown: The offering is composed of four tranches:
  • $1.25 billion of 5.100% Senior Notes due 2029
  • $1.25 billion of 5.400% Senior Notes due 2031
  • $1.5 billion of 5.600% Senior Notes due 2033
  • $1.0 billion of 5.900% Senior Notes due 2037
• Use of Proceeds: The primary use of the net proceeds will be to repay the company's outstanding 4.900% First Lien Notes due 2026. Any remaining funds are allocated for general corporate purposes, which may include other debt repayments.
• Timeline: The underwriting agreement was entered into on September 9, 2026, with the offering expected to close on September 15, 2026.