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Hewlett-Packard Raises $4.6B In Debt Issue
Hewlett-Packard has raised $4.6 billion through a sale of bonds in five parts.
Hewlett-Packard (HP) has raised $4.6 billion through a sale of bonds in five parts, Bloomberg reports. The Palo Alto–based company sold $350 million in the first tranche and issued $750 million of 2.35 percent fixed-rate notes due in three and a half years.
The $1.3 billion notes sold in the third part carry a coupon rate of 3 percent and are due to mature in 2016, while $1 billion of 4.375 percent are due in 2021 and $1.2 billion of 6 percent bonds are due to mature in 2041. HP will use the proceeds to fund its pending $11 billion acquisition of Autonomy Corp., which is likely to close by the end of 2011, adds Business Wire.
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