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EMC Bonds Slide as Dell Buyout Seen Threatening Current Lenders

EMC Corp. bonds are plummeting as reports of a potential buyout by Dell Inc. and Silver Lake Management spark concern the purchase would undermine current bondholders’ place in the capital structure.

EMC’s $1 billion of notes maturing in June 2023 tumbled to 89.8 cents on the dollar to yield 5 percent, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. That brought their two-day decline to 9.1 cents.