The move will allow U.S. computer maker Dell to trim some of the $43 billion in debt it is taking on to fund its pending cash-and-stock acquisition of data storage provider EMC Corp, a deal worth close to $60 billion.
The Japanese company said it would pay around $3.05 billion, an amount that excludes debt and unspecified advisory fees.
The sale will also offer NTT Data, one of the world's largest technology services companies, a bigger foothold in the United States, where it is looking to expand in healthcare IT, insurance and financial services consulting.
Dell has also made progress in syndicating $10 billion of its financing package for the EMC acquisition dubbed 'term loan A', people familiar with the situation said earlier. This is expected to be increased in size by $500 million to $750 million due to strong demand, with the extra money to be used to downsize some of the more expensive tranches of the remaining $33 billion in financing, the people added.
The group of banks participating in the term loan A has been expanded from the original eight underwriters to 25, with more expected to join before the syndication is completed in the next week, the people said.