As per anonymous sources, computer giant, Dell Inc. has decided to sell off its junk graded bonds worth $3.25 billion to finance its *acquisition of EMC Corp. ().
(*a latest attempt to reshape its business in making it less reliant on legacy hardware products, as spending shifts from personal computers to mobile devices and from corporate data centers to off-premise cloud services)
UPDATE: Securities and Exchange Commission states that a seminar involving EMC shareholders to vote on the Dell acquisition beholds on 19 July 2016.
Not to mention, the funds rose for the proposed deal has been fulfilled upto Dell’s expectation; when last month, it sold off an investment-grade secured bonds worth $20 billion | last week, it sold off institutional loans worth $5 billion.
However, latest speculations evolve around Dell’s strategy to sell off bonds – in part because of what it says about the rebound in demand for low-rated debt since the high-yield market was routed later the last year (source: Market Watch).
INSIGHT: In accord with Dell issuance, the unsecured bonds are generating strong interest from investors, who have expressed concerns about the long-term prospects of Dell’s computer-hardware business.
WEDNESDAY: Dell has announced new and promoted partners to the Dell Internet of Things (IoT) Solutions Partner Program and winners of the ‘Connect What Matters’ IoT Contest.
The computer giant celebrates the one-year anniversary of the formation of its IoT division, signifying its commitment to the advancement of data-driven innovation and digital transformation.
“We’re proud of the progress that we’ve made this past year. With the launch of the Edge Gateway and Embedded Box PCs, our quickly growing partnership program and now our successful IoT Gateway Contest, our efforts underscore Dell’s deep commitment to driving IoT adoption for real world use.” – Dell Commercial IoT Solutions’ executive director, Andy Rhodes.