Dell does well with US$20bn jumbo

摘要

Computer giant dell raised US$20bn through a six-tranche bond last week, completing the most critical part of an estimated US$41bn debt financing for its acquisition of EMC. The investment-grade trade from the junk-rated issuer was structured to please - and please it did, amassing more than US$88bn of investor orders. The offering was secured by various forms of collateral: equity interest in Dell and its subsidiaries, property and inter-company notes, among other things.