DELL Inc, trying to regain its position as the largest maker of personal computers from rival Hewlett-Packard Co, raised US$1.5 billion in its first bond offering in a decade.

The company, which 23 years ago pioneered selling custom-made PCs directly to customers, is tripling its debt load as Chief Executive Officer Michael Dell attempts to revive profits by selling more machines in stores, offering fewer model choices and closing a factory in Texas.

Dell may also need to issue more debt if it provides additional customer financing, according to Fitch Ratings.

Dell, based in Round Rock, Texas, follows software maker Oracle Corp in coming to the bond market this month as investors seek alternatives to financial debt that has tumbled in value. Oracle raised US$5 billion in its largest offering in two years, said Bloomberg News.

"Large tech companies have started to use a little more leverage over the last couple years," said Jayson Noland, an analyst with Robert W. Baird & Co in Milwaukee.

Dell Chief Financial Officer Donald Carty earlier said the company planned to repurchase US$1 billion of stock in the first quarter, which began February 2.

Dell bought back US$4 billion worth in the fourth quarter. Dell, which has lagged behind California-based Hewlett-Packard for six straight quarters, will cut more jobs than the 8,800 it predicted last year as the US economy saps demand.