Tuesday 13 September 2016 by William Arnold Trade opportunities

Ctrl+Alt+Dell — Five new DirectBonds from Dell Technologies Group

THIS CONTENT IS SUITABLE FOR WHOLESALE INVESTORS ONLY

Dell Technologies Group bonds are now available as DirectBonds to wholesale investors, in minimum investment amounts of USD10,000

computer cables

Five Dell Technologies Group bonds are now available to wholesale investors, with maturities ranging from 2021 to 2038. There are three senior unsecured issued from Dell Inc., and two senior secured issued from Diamond Finance Corporation.  Diamond Finance is a special purpose financing entity ultimately controlled by Dell Technologies. The group and conditions within the bond indentures are relatively complex, and investors should review related information memorandums and other offering documentation available.

Security Rank Maturity Yield to maturity* Factsheet link
Dell Inc. 4.625% fixed rate Senior unsecured 1 April 2021 3.25% Factsheet
Dell Inc. 7.10% fixed rate Senior unsecured 15 April 2028 6.13% Factsheet
Dell Inc. 6.50% fixed rate Senior unsecured 15 April 2038 6.52% Factsheet
Diamond Finance Corp 6.02% fixed rate Senior secured 15 June 2026 4.79% Factsheet
Diamond Finance Corp 8.10% fixed rate Senior secured 15 July 2036 6.52% Factsheet
*Pricing is indicative as of 13 September 2016 but subject to change.

Dell Technologies designs, develops, manufactures, markets and sells information technology products. In 2013, Dell announced a USD24.4bn leveraged buyout deal, which delisted its shares from the NASDAQ and Hong Kong Stock Exchange and took it private. In October 2015, Dell announced its intent to acquire enterprise software and storage company EMC Corporation. The transaction was closed in September 2016 and the combined entity is named Dell Technologies.

Dell Technologies is one of the largest technology companies globally, with leadership positions across the PC, servers, storage and virtualization software markets. This entity not only includes EMC, but EMC's wholly and partially owned subsidiaries, such as VMWare and Pivotal Software. Dell Technologies has revenues of USD74bn, 140,000 employees and a presence in 180 countries.