Dell Technologies sets new $6B revolving credit line

Dell Technologies Inc. entered into a new senior unsecured revolving credit facility on June 10, 2026.

Rhea-AI Filing Summary

Dell Technologies Inc. entered into a new senior unsecured revolving credit facility on June 10, 2026. The Credit Agreement provides Dell International L.L.C. and EMC Corporation with revolving commitments totaling $6,000,000,000, including a letter of credit sub-facility of up to $500,000,000, maturing on June 10, 2031.

Borrowings may be used by Dell Inc. and its subsidiaries for general corporate purposes and will bear interest at a margin over either a specified SOFR-based rate or a base rate, with the margin tied to the company’s credit ratings. The facility can be repaid voluntarily at any time without premium or penalty, other than customary breakage costs.

In connection with this new Credit Agreement, Dell International and EMC fully repaid all outstanding obligations under the prior November 1, 2021 credit agreement and terminated all related obligations and commitments, leaving no further obligations under the existing facility or its guarantees.

8-K Event Classification

4 items: 1.01, 1.02, 2.03, 9.01

4 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 1.02 Termination of a Material Definitive Agreement Business

A significant contract was terminated, which may affect business operations or revenue.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Revolving commitments: $6,000,000,000 Letter of credit sub-facility: $500,000,000 Incremental commitment minimum: $10,000,000 +2 more

5 metrics

Revolving commitments $6,000,000,000 Aggregate principal amount under new Credit Agreement

Letter of credit sub-facility $500,000,000 Maximum letter of credit capacity within new facility

Incremental commitment minimum $10,000,000 Minimum size for requested incremental commitments

Maturity date June 10, 2031 Final maturity of new revolving credit facility

Agreement date June 10, 2026 Date Dell entered the new Credit Agreement

Key Terms

senior unsecured revolving credit facility, Secured Overnight Financing Rate, base rate, letter of credit sub-facility, +1 more

5 terms

senior unsecured revolving credit facility financial

"which provides for a senior unsecured revolving credit facility"

A senior unsecured revolving credit facility is a bank loan line that a company can draw, repay and redraw up to an agreed limit, similar to a company credit card. It is “senior” because lenders are paid before other creditors if the company fails, and “unsecured” because it isn’t backed by specific assets; investors watch it for signals about a company’s short-term cash flexibility, borrowing cost and financial risk.

Secured Overnight Financing Rate financial

"either (a) the specified Secured Overnight Financing Rate (“SOFR”) or (b) a base rate"

A secured overnight financing rate (SOFR) is a daily benchmark interest rate that reflects the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Think of it as the market price to “rent” cash for a day with a very safe pledge, similar to paying a short-term rental fee for money backed by government bonds. Investors track SOFR because it underpins pricing for loans, bonds and derivatives, so movements change borrowing costs, interest income and the valuation of interest-rate–linked positions.

base rate financial

"plus, at the borrowers’ option, either (a) the specified SOFR or (b) a base rate"

The base rate is the primary interest rate set by a central authority or used as a benchmark for pricing loans, savings and other financial products. Think of it as the anchor in a floating system: when the base rate moves, borrowing costs, corporate financing and consumer spending tend to shift too, which can change company profits and investor returns across the market.

letter of credit sub-facility financial

"with a letter of credit sub-facility of up to $500,000,000"

A letter of credit sub-facility is a portion of a broader loan or credit agreement that lets a borrower obtain bank-issued letters of credit without drawing on cash loans. Think of it as a reserved slice of a company's credit line that a bank can use to guarantee payments to third parties; it matters to investors because letters of credit create contingent liabilities and can reduce the borrower’s remaining borrowing capacity and financial flexibility.

incremental commitments financial

"The Credit Agreement also allows Dell International and EMC to request incremental commitments"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What new credit facility did Dell (DELL) establish on June 10, 2026?

Dell Technologies entered a senior unsecured revolving credit facility providing $6,000,000,000 in total commitments. The agreement includes Dell International and EMC as borrowers and is arranged with JPMorgan Chase Bank as administrative agent, supporting general corporate funding flexibility.

When does Dell’s new $6 billion revolving credit facility mature?

The new revolving credit facility for Dell International and EMC matures on June 10, 2031. This five-year term provides a medium‑term liquidity backstop for the group’s operations and general corporate purposes, replacing the previous 2021 credit agreement structure.

How will Dell and its subsidiaries use the proceeds from the new Credit Agreement?

Proceeds from loans under the new Credit Agreement will be used by Dell Inc. and its subsidiaries for general corporate purposes. This broad wording typically covers working capital, capital expenditures, and other routine business needs as determined by management over time.

What interest rates apply to borrowings under Dell’s new Credit Agreement?

Borrowings accrue interest at a margin over either a specified SOFR rate or a base rate, at the borrowers’ option. The applicable margin for both SOFR and base rate loans varies based on Dell Technologies’ current credit ratings, linking borrowing costs to its credit quality.

What happened to Dell’s prior 2021 credit agreement after the new facility?

On entering the new Credit Agreement, Dell International and EMC repaid all outstanding obligations under the November 1, 2021 credit agreement and terminated all commitments. As a result, they and the guarantors have no remaining obligations under that existing facility or its related guarantees.

Does Dell face prepayment penalties on the new revolving credit facility?

Borrowings under the new Credit Agreement may be voluntarily repaid at any time without premium or penalty. The only exception is customary breakage costs that might arise from early repayment of certain interest‑bearing borrowings before their scheduled interest periods end.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/10/2026 - 04:19 PM EDT Learn about SEC filing dates

false 0001571996 0001571996 2026-06-10 2026-06-10

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 10, 2026

Dell Technologies Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-37867		80-0890963
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

One Dell Way
Round Rock, Texas		78682
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (800) 289-3355

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class C Common Stock, par value $0.01 per share		DELL		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

Credit Agreement

On June 10, 2026, Dell Technologies Inc. (the “Company”), Denali Intermediate Inc., Dell Inc., Dell International L.L.C. (“Dell International”), as a borrower, and EMC Corporation (“EMC”), as a borrower, entered into a Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and each of the lenders and other parties from time to time party thereto (the “Credit Agreement”), which provides for a senior unsecured revolving credit facility. Also on June 10, 2026, and in connection with the entry into the Credit Agreement, Dell International and EMC repaid in full and terminated all of their obligations and commitments under the Existing Credit Agreement (as defined in Item 1.02 of this report).

The Credit Agreement, which matures on June 10, 2031, provides Dell International and EMC with revolving commitments in an aggregate principal amount of $6,000,000,000 and with a letter of credit sub-facility of up to $500,000,000. The Credit Agreement also allows Dell International and EMC to request incremental commitments on one or more occasions in a minimum amount of $10,000,000. The proceeds of the Loans (under and as defined in the Credit Agreement) will be used by Dell Inc. and its subsidiaries for general corporate purposes.

Borrowings under the Credit Agreement bear interest at a rate per annum equal to an applicable margin plus, at the borrowers’ option, either (a) the specified Secured Overnight Financing Rate (“SOFR”) or (b) a base rate. The margin applicable to SOFR and base rate borrowings varies based upon the Company’s existing credit ratings. The base rate is calculated based upon the greatest of the specified prime rate, the specified federal reserve bank rate, or SOFR plus 1%. Borrowings under the Credit Agreement may be voluntarily repaid at any time without premium or penalty, other than customary breakage costs.

The foregoing description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement, which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.

Item 1.02 Termination of Material Definitive Agreement.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.

Existing Credit Agreement

In connection with the entry into the Credit Agreement, on June 10, 2026, Dell International and EMC repaid all outstanding obligations under the credit agreement, dated as of November 1, 2021, among the Company, Denali Intermediate Inc., Dell Inc., Dell International, EMC, JPMorgan Chase Bank, N.A., as administrative agent, and each of the lenders and other parties from time to time party thereto (the “Existing Credit Agreement”), and terminated all obligations and commitments thereunder. As a result, Dell International, EMC and the guarantors under the Existing Credit Agreement have no further obligations under the Existing Credit Agreement or the related guarantees.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
10.1*		Credit Agreement, dated as of June 10, 2026, among Dell Technologies Inc., Denali Intermediate Inc., Dell Inc., Dell International L.L.C., as a borrower, EMC Corporation, as a borrower and JPMorgan Chase Bank, N.A., as administrative agent, and each of the lenders and other parties from time to time party thereto.
104		Cover Page Interactive Data File — the cover page XBRL tags are embedded within the Inline XBRL document.

* Certain schedules and exhibits to this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The registrant hereby undertakes to furnish supplementally a copy of any omitted schedule or exhibit to the Securities and Exchange Commission or its staff upon request.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 10, 2026				Dell Technologies Inc.
				By:		/s/ Christopher A. Garcia
						Christopher A. Garcia Senior Vice President and Assistant Secretary
						(Duly Authorized Officer)

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EX-10.1 796.9 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.6 KB