VMware to sell senior notes in three parts via two bookrunners

By Devika Patel

Knoxville, Tenn., Aug. 14 – VMware, Inc. intends to price a three-part dollar-denominated offering of fixed-rate senior notes, according to a 424B2 filing with the Securities and Exchange Commission.

The notes feature make-whole calls and then par calls.

BofA Merrill Lynch and J.P. Morgan Securities LLC are the bookrunners.

Proceeds will be used to fund a $1 billion share repurchase program through Aug. 31, 2018, to repay in full two promissory notes with a combined principal of $1.23 billion and for general corporate purposes.

VMware is a Palo Alto, Calif., virtualization solutions provider.

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