By Cristal Cody
Tupelo, Miss., May 8 – Intel Corp. priced $6.5 billion of senior notes (A1/A+/A+) in seven tranches on Monday, according to a market source.
Intel priced $700 million of three-year floating-rate notes at Libor plus 8 basis points.
The company sold $1 billion of 1.85% three-year fixed-rate notes at a spread of Treasuries plus 33 bps.
The $800 million tranche of five-year floating-rate notes priced at Libor plus 35 bps.
Intel placed the $750 million offering of 2.35% five-year fixed-rate notes at a Treasuries plus 45 bps spread.
Intel sold $1.25 billion of 2.875% seven-year notes at a spread of 68 bps over Treasuries.
The $1 billion tranche of 3.15% 10-year notes priced with a Treasuries plus 80 bps spread.
In the final tranche, Intel sold $1 billion of 4.1% 30-year notes at a spread of 110 bps over Treasuries.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. were the bookrunners.
Proceeds will be used for general corporate purposes, according to a 424B5 filing with the Securities and Exchange Commission.
Intel is a semiconductor chip maker based in Santa Clara, Calif.
| Issuer: | Intel Corp.
|
| Amount: | $6.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Citigroup Global Markets Inc.
|
| Trade date: | May 8
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Fitch: A+
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $700 million
|
| Maturity: | May 11, 2020
|
| Coupon: | Libor plus 8 bps
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | May 11, 2020
|
| Coupon: | 1.85%
|
| Spread: | Treasuries plus 33 bps
|
|
|
| Five-year floaters
|
| Amount: | $800 million
|
| Maturity: | May 11, 2022
|
| Coupon: | Libor plus 35 bps
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | May 11, 2022
|
| Coupon: | 2.35%
|
| Spread: | Treasuries plus 45 bps
|
|
|
| Seven-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | May 11, 2024
|
| Coupon: | 2.875%
|
| Spread: | Treasuries plus 68 bps
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | May 11, 2027
|
| Coupon: | 3.15%
|
| Spread: | Treasuries plus 80 bps
|
|
|
| 30-year notes
|
| Amount: | $1 billion
|
| Maturity: | May 11, 2047
|
| Coupon: | 4.1%
|
| Spread: | Treasuries plus 110 bps
|
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