Summary
Oracle Corporation (ORCL) announced on February 3, 2006, the establishment of a new $3,000,000,000 Commercial Paper Program. This program replaces the company's prior commercial paper program, with the stated purpose being to align the issuer of notes under the program with the ultimate parent company of Oracle Systems and Siebel. This move is primarily a structural and administrative change to consolidate debt issuance under a unified entity.
Key Highlights
- 1Establishment of a new $3,000,000,000 Commercial Paper Program.
- 2The new program commenced on February 3, 2006.
- 3The new program replaces the prior commercial paper program of Oracle Systems Corporation.
- 4The change aligns the issuer of commercial paper with the ultimate parent company of Oracle Systems and Siebel.
- 5Key financial institutions including Banc of America Securities, JP Morgan Securities, and Lehman Brothers are acting as dealers.
- 6JPMorgan Chase Bank, N.A. is serving as the issuing and paying agent.
- 7The terms of the new program are substantially similar to the prior program.