logo
  Join        Login             Stock Quote

Intel (INTC) Plans Offering Of Senior Notes

 December 04, 2012 10:56 AM
 


(By Balachander) Intel Corp. (NASDAQ: INTC), the world's largest chip maker, announced plans to offer senior unsecured notes under a shelf registration statement filed with the Securities and Exchange Commission.

The company, which announced in November that Paul Otellini will be retiring as President and CEO in May, plans to to use the net proceeds for general corporate purposes and share buybacks.

As of September 29, 2012, Intel disclosed it had roughly $8.0 billion of indebtedness.

[Related -Intel Corporation (INTC): An 18.1% Yield From Intel?]

The offering and the final terms of the notes, including principal amount, interest rate and maturity will depend on market and other conditions at the time of pricing, the company said in a statement.

J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers for the offering.

In October, Intel reported a fall in quarterly earnings and revenue as macro-economic concerns continue to mute growth and recovery in the semiconductor sector. Results, however, topped market expectations.

The world's largest chip maker earned 60 cents a share on a non-GAAP basis, down 12 percent from the year-ago quarter. Net earnings fell 14.2 percent to $2.97 billion. Revenue declined 5.5 percent to $13.5 billion for the third quarter.

[Related -Intel Corporation (INTC) and 5 Other Stocks That Could Pop on Earnings This Week]

In September, Intel withdrew its full-year forecast, citing softness in the enterprise PC market segment and slowing demand in emerging markets.

On Tuesday, INTC shares added 1.41 percent to trade at $19.82. Over the past year, the stock has been trading between $19.23 and $29.27.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageUnited States Steel Corporation (NYSE:X): Turning $50 Says Credit Suisse

United States Steel Corporation (NYSE:X) is rolling today; up nearly 2.5% thanks mostly to an upgrade from read on...

article imageDSW Inc. (DSW) Q2 Earnings Preview: Walking Past the Consensus

DSW Inc. (NYSE:DSW) will conduct a conference call to discuss its Second Quarter 2014 results on Tuesday, read on...

article imageBest Buy Co Inc. (BBY) Q2 Earnings Preview: Bulls Ignoring Warning Signs

Best Buy Co Inc. (NYSE:BBY) will announce its second quarter, fiscal-year 2015 before the market open on read on...

article imageXerox Corp. (XRX): An Insider’s $500,000 Insider Buy

Last week was a healthy week of insider buying as 194 companies reported purchase records. The number read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.