Oracle Announces Pricing of $20 Billion of Common Stock and Senior Notes

Oracle priced concurrent offerings of 86.2 million common shares at $116.00 per share and $10 billion of senior notes across five tranches, for roughly $20 billion in gross proceeds. Net proceeds are approximately $9.9 billion from equity and $10.0 billion from debt, earmarked for general corporate purposes including capex, debt repayment, acquisitions, dividends or buybacks. The notes carry steep coupons of 7.0% to 8.65%, an unusually high cost of debt for a mega-cap issuer, while the equity tranche is dilutive to existing holders.

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