DXC Technology plans senior notes due 2026, 2028; talk emerges

By Rebecca Melvin and Cristal Cody

Concord, N.H., Sept. 7 – DXC Technology Co. is offering dual tranches of dollar-denominated five- and seven-year senior notes (Baa2/BBB-), according to a market source and a 424B2 filing with the Securities and Exchange Commission.

A tranche of notes due Sept. 15, 2026 is talked to yield in the 115 basis points area over Treasuries.

A tranche of notes due Sept. 15, 2028 has price talk in the 135 bps area over Treasuries.

The notes are callable at par plus a make whole.

BofA Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Lloyds Securities Inc., Mizuho Securities USA Inc. and MUFG are the bookrunners.

Proceeds will be used to repay, in whole or in part, the company’s 4.125% notes due 2025, 4.75% notes due 2027 and 7.45% notes due 2029, with the remainder applied to other existing debt.

Based in McLean, Va., DXC provides digital information technology services and solutions.

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