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DXC Technology Prices Senior Notes Offering


DXC Technology Company (DXC) (“DXC”) today announced the pricing of an offering of €650 million aggregate principal amount of its 1.750% Senior Notes due 2026 (the “Notes”), priced at 99.820% of the aggregate principal amount. The offering is being made through an underwriting syndicate led by Mizuho International plc and RBC Europe Limited, as representatives of the underwriters. DXC has applied to list the Notes on the New York Stock Exchange. The issuance of the Notes is expected to close on or about September 26, 2018, subject to customary closing conditions.

DXC intends to apply the net proceeds from this offering, after the payment of the underwriting discount and other expenses, to repay outstanding indebtedness to the extent of the net proceeds, including the €400 million aggregate principal amount of outstanding borrowings under its Euro-denominated term loan facility with any remainder applied to other outstanding indebtedness; however, depending on prevailing interest rates and other market conditions, DXC may choose to use the net proceeds for working capital and general corporate purposes, including, but not limited to, the repayment of other outstanding indebtedness.

A registration statement, including a prospectus, relating to the offering of the Notes has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and is effective. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy any securities (including the Notes) and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. The offering of the Notes is being made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

A copy of the prospectus supplement and accompanying prospectus relating to the offering of the Notes may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov or by sending a request to Mizuho International plc, Mizuho House, 30 Old Bailey, London EC4M 7AU, United Kingdom, telephone: +44-207-090-6698; or to RBC Europe Limited, Riverbank House, 2 Swan Lane, London EC4R 3BF, United Kingdom, telephone: +1-866-375-6829.

About DXC Technology

DXC Technology (DXC) is a world leading independent, end-to-end IT services company, serving nearly 6,000 private and public sector clients form a diverse array of industries across 70 countries. The company’s technology independence, global talent and extensive partner network deliver transformative digital offerings and solutions that help client harness the power of innovation to thrive on change.

All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” These statements represent DXC’s intentions, plans, expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved. These statements are subject to numerous assumptions, risks, uncertainties, and other factors, many outside of DXC’s control, that could cause actual results to differ materially from the results described in such statements. For a description of these factors, including specific risks relating to the offering of the Notes, please see DXC’s most recently filed Annual Report on Form 10-K for the fiscal year ended March 31, 2018, Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2018 and the prospectus supplement, filed with the SEC on September 10, 2018, and the accompanying prospectus, as well as the documents incorporated by reference therein, and any updating information in subsequent SEC filings. No assurance can be given that any goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events except as required by law.

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