Dell Prices $5B Four-Tranche Senior Notes Offering to Refinance 2026 Debt
DELL has more than doubled off its 52-week low of $110.22.
Summary
Dell priced a $5.0 billion four-tranche senior notes offering on September 9, 2026, to repay its 2026 First Lien Notes and fund general corporate purposes.
Key Events · Financing and Capital Events · DELL
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$5B Four-Tranche Notes Offering Priced
Dell International L.L.C. and EMC Corporation priced $5.0 billion in senior notes: $1.25B 5.100% due 2029, $1.25B 5.400% due 2031, $1.5B 5.600% due 2033, and $1.0B 5.900% due 2037.
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Proceeds to Repay 2026 First Lien Notes
Net proceeds will repay the outstanding 4.900% First Lien Notes due 2026, with remaining proceeds for general corporate purposes including other debt repayment.
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Pricing and Underwriting Syndicate
Notes priced at 99.953%, 99.836%, 99.475%, and 99.694% of principal. Eight joint book-running managers led the offering, with 18 additional underwriters participating.
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Closing Expected September 15, 2026
The offering is expected to close on September 15, 2026, subject to customary closing conditions, under an existing S-3ASR registration statement.
Analysis · DELL · Technology
Dell is raising $5.0 billion across four senior note tranches maturing 2029–2037, with proceeds earmarked to repay its 4.900% First Lien Notes due 2026 and for general corporate purposes. This follows a $3.0 billion senior notes offering in June 2026 and comes amid a record AI-driven revenue surge. The offering extends debt maturities and locks in current rates, but adds $5B to the company's debt load at a time when insiders have been heavy net sellers.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 30% of the 1963 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.14%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, DELL was trading at $509.30 on NYSE in the Technology sector, with a market capitalization of approximately $322.4B. The 52-week trading range was $110.22 to $562.99. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.