Silverlake's exit strategy
US bond yields are now over 3% so it's going to be hard to pay down the debt just from cashflow. Much better to stiff the chumps who bought the VM Ware tracking stock. If the holders won't do this as part of the IPO they can probably be forced to do it in a subsequent reorganisation*
* including selling off and spinning off all the shit that Dell bought when it when private.