DXC Technology Company DXC announced the pricing of a new US-dollar denominated senior notes offering of $1.35 billion on Sep 7. The company issued the notes in two tranches of different maturities, carrying different interest rates. It is worth mentioning that the move comes on the heels of a Euro denominated senior notes offering just a week ago.The company priced notes worth $700 million at 99.900% of the aggregate principal amount, having an annualized interest rate of 1.80% and maturity in 2026. Another senior note worth $650 million, issued at a price of 99.910% of the aggregate principal amount, carries an annualized interest rate of 2.375% and will mature in 2028. The offerings are anticipated to close on Sep 9, 2021.This Zacks Rank #3 (Hold) company intends to utilize the proceeds from the aforementioned offerings to wholly or partly repay its 4.125% Senior Notes due 2025, 4.750% Senior Notes due 2027, 7.45% Senior Notes due 2029 and some other indebtedness from the remaining proceeds (if any).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.With the aforementioned debt refinancing initiative, DXC Technology will be able to lower its interest expenses significantly. The latest move reflects its commitment toward reducing overall outstanding debt and interest expenses burden.Notably, DXC Technology was formed in 2017 by the merger of Computer Sciences Corp. and the enterprise services unit of Hewlett Packard Enterprise HPE. CSC, prior to the completion of the merger, took additional debt. This has increased DXC Technology’s total long-term liability, thereby increasing its interest-cost burden.DXC Technology Company. Price and Consensus DXC Technology Company. price-consensus-chart | DXC Technology Company. QuoteTo lower its debt burden, the company resorted to spin-offs and the divestment of non-core assets. It is focusing on debt refinancing to reduce interest expenses. The strategy has helped it significantly reduce outstanding debt level to $4.12 billion as of Jun 30, 2021, from $10.33 billion as of Jun 30, 2020. The company’s interest expenses decreased to $62 million in first-quarter fiscal 2022 from $106 million in the year-ago quarter.Borrowing costs continue to be low, enabling companies to obtain easy financing. With the global treasuries offering low rates, corporate bonds and borrowings from banks have been witnessing high demand lately.In the past few months, several companies have issued senior notes to improve liquidity. In June this year, Salesforce CRM issued $8 billion worth of senior notes to fund the acquisition of Slack Technologies.In April, Marvell Technologies MRVL raised $2 billion through senior notes to fund the acquisition of Inphi Corporation. In March, NCR Corporation raised $1.1 billion by issuing 5.125% senior unsecured notes. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100S of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report salesforce.com, inc. (CRM): Free Stock Analysis Report Marvell Technology, Inc. (MRVL): Free Stock Analysis Report Hewlett Packard Enterprise Company (HPE): Free Stock Analysis Report DXC Technology Company. (DXC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research