Summary
Oracle Corporation (ORCL) filed an 8-K on July 10, 2013, reporting the successful issuance and sale of €2.00 billion in aggregate principal amount of new notes. This offering consisted of two tranches: €1.25 billion of 2.250% Notes due 2021 and €750 million of 3.125% Notes due 2025. The issuance was conducted under Oracle's existing shelf registration statement on Form S-3 and followed an underwriting agreement with several financial institutions. This debt issuance indicates Oracle's strategy to manage its capital structure and potentially fund ongoing operations, investments, or acquisitions. Investors should note that the company is raising capital through debt, which will impact its leverage and future interest expenses. The specific terms and conditions of the notes are detailed in accompanying exhibits, providing transparency on the covenants and maturity profiles.
Key Highlights
- 1Oracle Corporation completed the issuance and sale of €2.00 billion of notes on July 10, 2013.
- 2The notes are comprised of two tranches: €1.25 billion of 2.250% Notes due 2021 and €750 million of 3.125% Notes due 2025.
- 3The debt issuance was conducted pursuant to Oracle's existing shelf registration statement (Form S-3) filed on April 15, 2013.
- 4The offering was made under an underwriting agreement dated July 2, 2013, with BNP Paribas, Deutsche Bank AG, and The Royal Bank of Scotland plc acting as underwriters.
- 5The notes are governed by an Indenture dated January 13, 2006, as amended by a First Supplemental Indenture dated May 9, 2007.
- 6This filing does not disclose the specific use of proceeds, but debt issuance typically supports general corporate purposes, acquisitions, or refinancing.
- 7Key exhibits filed include the Form of Officers’ Certificate detailing the notes' terms, legal opinions, and consents.