Loan Deadline Extended For Dell’s EMC Deal

The commitment deadline on $10 billion of pro-rata loans in a $45 billion financing package backing computer giant Dell’s purchase of data storage products maker EMC Corp has been extended due to a slow order book, a source close to the transaction said.

The Chinese New Year, which delayed approval of requests from foreign banks' home offices to participate in the financing, was the main reason for extending the original February 10 deadline, the source said.

Pro rata loans are primarily sold to banks, and Asian and European lenders are an important component.