Oracle (NYSE:ORCL) saw its stock drop more than 2% shortly after Wednesday’s market open amid reports that the software company is considering a $15 billion U.S. investment-grade bond offering.
Bloomberg News, citing sources familiar with the matter, reported that Oracle may structure the debt sale in up to seven tranches, including a rare 40-year bond. Pricing discussions for the 40-year portion are said to be roughly 1.65 percentage points above comparable U.S. Treasury securities.
If the offering proceeds, it would mark Oracle’s first issuance of debt since January, signaling a notable return to the corporate bond market.
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