Intel announces proposed $15 billion common stock offering

Intel announced a proposed underwritten public offering of $15 billion of common stock, with a 30-day underwriter option worth up to $2.25 billion more. Proceeds are for general corporate purposes, including capital expenditure and working capital. The company said the raise supports growth and keeps its balance sheet and investment-grade rating strong, and it is a dilutive equity raise for existing holders.

• Proposed $15B underwritten common stock offering
• Underwriter option for up to $2.25B more
• Proceeds for general corporate purposes, capex and working capital
• Joint book-runners: J.P. Morgan, Goldman Sachs, Morgan Stanley, Citigroup