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Oracle markets four-part notes offering for debt repayment
By Mary-Katherine Stinson
Lexington, Ky., Feb. 2 – Oracle Corp. entered the market with a four-part offering of notes, according to a 424B2 filing with the Securities and Exchange Commission.
The offering, announced on Thursday, is comprised of fixed-rate notes with maturities in 2028, 2030, 2033 and 2053.
All four notes will have make-whole provisions and then par calls a number of months before each maturity date.
BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) LLC and J.P. Morgan Securities LLC are acting as global coordinators in the offering.
BNP Paribas Securities Corp., Deutsche Bank Securities Inc., PNC Capital Markets LLC and SMBC Nikko Securities America, Inc. are also listed as bookrunners.
Bank of New York Mellon Trust Co., NA is the trustee.
Counsel to the issuer is provided by Freshfields Bruckhaus Deringer US LLP and to the underwriters by Simpson Thacher & Bartlett LLP.
The senior notes will rank equal in right of payment to $90.8 billion of other borrowings. The company had $132.2 billion of total liabilities outstanding as of Nov. 30.
Proceeds will be used to prepay in full the remaining borrowings of $3.1 billion under the company’s bridge facility and to repay the outstanding $1.25 billion of senior notes due Feb. 15 and to pay any related premiums, fees and expenses.
The remainder of the net proceeds of this offering, if any, are intended to repay all or a portion of Oracle’s outstanding commercial paper notes and to pay any related premiums, fees and expenses. As of Nov. 30, Oracle had outstanding commercial paper notes maturing at various dates through March, with an annualized effective interest rate of 4.48%.
The computer software and technology company is based in Austin, Tex.
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