Intel offering $1.5 billion in notes

Intel, the world’s biggest maker of microprocessors, says it is offering $1.5 billion in junior subordinated convertible debentures and will use proceeds to buyback stock.

Intel, the world’s biggest maker of microprocessors, says it is offering $1.5 billion in junior subordinated convertible debentures and will use proceeds to buyback stock.

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The company says the debentures are due in 2039. Intel is granting initial buyers of the debentures the right to buy up to $250 million additional debentures to cover overallotments.

Intel has about 5.6 billion shares of outstanding stock.

Shares rose 11 cents to close at $18.90 on Monday.