Intel invested about $1.165bn to buy back stocks
Chipmaker, Intel, has raised $6bn by selling its bonds to assist in repurchasing stock and use part of it for other business purposes.
The firm issued $3bn of 5-year notes at 1.35%, $1.5bn of 10-year notes at 2.70%, $750m of 20-year notes at 4% and about $750m of 30-year notes at 4.25%.
In the quarter ending September, Intel invested about $1.165bn to buy back stocks that brings its repurchases up to now in 2012 to $3.765bn.
Intel spokesman Chuck Mulloy was quoted by Reuters that the cost of money is relatively inexpensive and the firm has high credit rating.
"It's sound financial planning," Mulloy said.
Intel sells about 80% of the chips which are used as calculating engines in PCs, while is facing dropping demand for its products, while has exposed limited progress in using its technologies in mobile phones and tablets.
