NVIDIA is expected to raise about $25bn through an investment-grade bond
offering, with subscription demand said to exceed three times the planned size
and reach roughly $85bn, people familiar with the matter said. The sale will be
split into seven tranches maturing from two to 30 years. The longest-dated
tranche was priced at about 65bps over U.S. Treasury yields, the sources said.
Proceeds will be used to refinance existing debt and for other corporate
purposes. This would be NVIDIA’s first investment-grade bond issue in five
years.
