Intel Selling $6 Billion In Bonds To Repurchase Stock And Fund Corporate Operations

Posted on Dec 5 2012 - 4:17am by Editorial Staff

Intel today announced that it is selling $6 billion in bonds in order to repurchase stock and fund corporate operations. Of these notes, $3 billion will get mature on December 15, 2017 and will hold an interest at an annual rate of 1.35%, the other $1.5 billion will mature on December 15, 2022 and will constitute interest at an annual rate of 2.70%, other $750 million will mature on December 15, 2032 and will bear an interest at an annual rate of 4.0% and while the last $750 million (among $6 billion) will having the maturity date of December 15, 2042 and will bear interest at an annual rate of 4.25%.

The company says that the notes will be offered to public at a price of 99.894% of par in the case of the 2017 notes, 99.573% of par in the case of the 2022 notes, 99.115% of par in the case of the 2032 notes and 99.747% of par in the case of the 2042 notes although the offer is expected to close on December 11, 2012, totally subject to customary closing conditions. J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers for the offering.

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