Intel Corp. launched an exchange offer for unregistered senior notes worth about $1.97 billion due 2047 to fulfill its obligations under the registration rights agreement with holders.
The notes, which carry a 3.734% coupon rate, were issued in December 2017. The new notes will carry the same coupon rate and will also be due in 2047.
Intel will not receive any proceeds from the exchange offer which expires June 8.
