Intel launches bond issuance to finance the repurchase of Irish factory equity

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Intel officially launched a bond issuance for investment grade on Saturday local time to help raise funds for its $14.2 billion buyback of shares in Apollo Global Management’s Irish Fab 34 plant. According to sources, Intel is marketing five tranches of bonds with maturities ranging from 5 to 40 years. The initial price guidance for the longest-term bonds is approximately 1.65 percentage points above U.S. Treasury yields. The bond issuance is underwritten by Citigroup, JPMorgan Chase, Barclays, Bank of America, and Deutsche Bank. Intel plans to raise about $6.5 billion in new debt through this bond issuance, with the remaining funds paid using the company’s cash on hand. (Sina Finance)

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