Intel 1998 Annual Report Download - page 42

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Series B bonds. The bonds are adjustable and redeemable at the option of either the Company or the bondholder every five years through 2013
and are next adjustable and redeemable in 2003. The additional and the existing Irish punt borrowings were made in connection with the
financing of manufacturing facilities in Ireland, and Intel has invested the proceeds in Irish punt denominated instruments of similar maturity to
hedge foreign currency and interest rate exposures. The Greek drachma borrowings were made under a tax incentive program in Ireland, and
the proceeds and cash flows have been swapped to U.S. dollars.
Under shelf registration statements filed with the Securities and Exchange Commission, Intel had the authority to issue up to $3.3 billion in the
aggregate of Common Stock, Preferred Stock, depositary shares, debt securities and warrants to purchase the Company's or other issuers'
Common Stock, Preferred Stock and debt securities, and, subject to certain limits, stock index warrants and foreign currency exchange units. In
1993, Intel completed an offering of Step-Up Warrants (see "1998 Step-Up Warrants") under these registration statements. The Company may
issue up to $1.4 billion in additional securities under effective registration statements.
As of December 26, 1998, aggregate debt maturities were as follows:
2000-$9 million; 2001-$57 million; 2002-$22 million; 2003-$130 million; and thereafter-$484 million.
Investments
The returns on a majority of the Company's marketable investments in long-term fixed rate debt and certain equity securities are swapped to
U.S. dollar LIBOR
-
based returns. The currency risks of investments denominated in foreign