Intel Chip Fabrication Plant Selling $3.85 Billion of Bonds
- 13-year security may yield 185 basis points over Treasuries
- Intel has been seeking a comeback with new chip factories
American flags at the Intel factory in Chandler, Arizona.
Photographer: Cassidy Araiza/BloombergThis article is for subscribers only.
A company tied to Intel Corp.’s expansion of computer chip factories in Arizona is selling $3.85 billion of investment-grade bonds on Thursday.
Foundry JV Holdco is selling notes in four parts. The longest portion of the offering, a long 13-year note, is set to yield 185 basis points over US Treasuries after initial talk of 220 basis points, according to a person familiar with the matter. Proceeds are set to refinance other borrowings.