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Workday plans to price three series of notes
By Rebecca Melvin
Concord, N.H., March 30 – Workday Inc. intends to sell three series of dollar-denominated fixed-rate notes (Baa2/BBB), according to a 424B5 filing with the Securities and Exchange Commission.
The notes have a make-whole call followed by a par call.
BofA Securities, Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the joint bookrunning managers for the offering.
U.S. Bank Trust Co., NA is the trustee.
Counsel to the issuer is provided by Fenwick & West LLP and to the underwriters by Davis Polk & Wardwell LLP.
Proceeds will be used for general corporate purposes, which includes repaying $693.8 million outstanding under the company’s senior term loan facility and which may include repaying the $1.15 billion of its 0.25% convertible senior notes due 2022.
The provider of financial management and human capital management software is based in Pleasanton, Calif.
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