Intel’s debt default insurance costs have climbed to their highest level on record, according to the information cited by ChainCatcher. The move came after the company warned that it expects net cash outflows this year as weakness in the PC market weighs on its business. Markit data showed that Intel’s five-year credit default swap spread widened by 17.5 basis points to 124.75 basis points, a record level. The spread is also on track for its biggest single-day increase since October 2022. The figures point to a sharp rise in the cost of insuring Intel’s debt against default, while the company’s own guidance tied the pressure to soft demand in the PC market and an expected net cash outflow for the year.
Intel’s debt default insurance costs have risen to a record high, according to ChainCatcher.
The company warned that it expects net cash outflows this year as a weak PC market weighs on performance. Markit data showed Intel’s five-year credit default swap spread widened by 17.5 basis points to a record 124.75 basis points, and was on track for its biggest single-day increase since October 2022.
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