Adobe intends to sell fixed-rate notes in four tranches

By Devika Patel

Knoxville, Tenn., Jan. 22 – Adobe Inc. plans to sell four tranches of dollar-denominated fixed-rate notes, according to a 424B2 filing with the Securities and Exchange Commission.

One tranche of notes has a make-whole call. The remaining three tranches have a make-whole call and then a par call.

BofA Securities, Inc., J.P. Morgan Securities LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used for general corporate purposes, including repaying the company’s $900 million of outstanding 2020 senior notes and its term loan.

Adobe is a San Jose, Calif., computer software and services provider for businesses.

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