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Intel grosses $1.25 billion from debt offering

Intel Corp. raised gross proceeds of $1.25 billion from an offering of 2.875% senior unsubordinated unsecured notes due May 11, 2024.

The company plans to use the proceeds for general corporate purposes or working capital, investment in securities, redemption or repayment of debt securities, and repurchase of securities.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the lead underwriters.

Blaylock Beal Van LLC and Samuel A. Ramirez & Co. Inc. also served as underwriters for the offering.