Oracle plans to sell benchmark notes in multiple tranches Tuesday

By Andrea Heisinger

New York, July 9 - Oracle Corp. is in Tuesday's market with a benchmark-sized sale of notes (A1/A+/A+) in a possible three tranches, according to a market source and a 424B2 filing with the Securities and Exchange Commission.

There will be fixed-rate tranches with a long five-year maturity and a 10-year maturity. There may also be a tranche of floating-rate notes with a long five-year maturity.

Bookrunners are BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and HSBC Securities (USA) Inc.

Proceeds will be used for general corporate purposes, possibly including stock repurchases, payment of cash dividends on common stock and for future acquisitions.

Oracle last tapped the U.S. bond market with a $5 billion sale in two tranches on Oct. 18, 2012. That offering included a 1.2% five-year note priced at 45 basis points over Treasuries and a 2.5% 10-year note sold at Treasuries plus 68 bps.

The computer software and technology company is based in Redwood City, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.