DXC Technology tenders for two series of 4.45% notes due 2022

By Taylor Fox

New York, March 16 – DXC Technology Co. commenced an offer to purchase for cash any and all of its $274.47 million outstanding 4.45% senior notes due 2022 (Cusip: 23355LAA4) and any and all of wholly owned subsidiary Computer Sciences Corp.’s $170,795,000 outstanding 4.45% senior notes due 2022 (Cusip: 205363AN4), according to a news release.

Holders who tender notes accepted for purchase will receive the consideration based on the 1.5% U.S. Treasury security due Sept. 15, 2022 plus 45 basis points, plus interest.

Concurrently with the tender offers, the companies will redeem all of the remaining notes on April 15.

The pricing will occur at 3 p.m. ET on March 22.

The offers will expire at 5 p.m. ET on March 22.

The settlement date is expected to be March 23.

The guaranteed delivery time is expected to be 5 p.m. ET on March 24 with guaranteed delivery settlement on March 25.

MUFG Securities Americas Inc. (877 744-4532, 212 405-7481) is the tender agent, and Global Bondholder Services Corp. (866 470-3700, 212 430-3774; contact@gbsc-usa.com) is the information agent.

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

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