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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Intel Corporation | NASDAQ:INTC | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 34.46 | 34.51 | 34.59 | 0 | 01:00:00 |
From Jul 2022 to Jul 2024
By Sabela Ojea
Intel Corp. said Friday that it is receiving net proceeds of $10.96 billion from a sale of notes.
The chip maker said it sold notes of an aggregate principal amount of $11.0 billion.
It didn't detail where the proceeds of the sale will be invested.
The sale includes $1.50 billion of 4.875% senior notes due 2026, $1.75 billion of 4.875% senior notes due 2028, among other notes due in 2030, 2033, 2043, 2053 and 2063.
Earlier this year, the company issued a disappointing set of quarterly results that spurred a downgrade in its credit rating.
As a result of this, the company is setting its efforts toward reducing costs and is implementing job cuts. Chief Executive Pat Gelsinger will see his base pay reduced 25% as part of the restructuring plan.
Shares rose 0.7% in after-hours trading.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 10, 2023 17:27 ET (22:27 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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