Dell Said to Set Rate on $5.5 Billion of Term Loans for Buyout
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Dell Inc., the computer maker that Chief Executive Officer Michael Dell and Silver Lake Management LLC are buying for $24.9 billion, set the rate on $5.5 billion of loans it’s seeking to support the acquisition, according to a person with knowledge of the transaction.
A $4 billion, 6 1/2-year term loan will pay interest at 3.75 percentage points more than the London interbank offered rate, with a 1 percent minimum on the lending benchmark, said the person who asked not to be identified because the terms aren’t set. The loan will be offered to lenders at 99 cents on the dollar.