Dell said Monday it has agreed to sell $500 million in notes due in 2014 with the largest bank in America serving as underwriters as shares gained 1 cent to close at $10.33 after analyst raise his share to a buy from neutral with price target of $11.40.

According to the reports, the world's second-largest computer maker had completed an underwritten public offering of the notes with Bank of America, Morgan Stanley and UBS in a Securities and Exchange Commission filing.

As of Jan. 30, 2009, Dell has $9.5 billion of cash and investments and had about $2 billion debt, as fitch remains stable despite challenging market conditions with an 'A' rating to Dell proposed benchmark issuance of five-year senior unsecured notes due 2014.

Shares of some top computer companies rose in Apple Inc 2.1 percent at $118.45, while, HP fell 1.1 percent to $33.76 and IBM drop $.66 or .6 percent to $101.56 in the closing trading.

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