Tech Giant Oracle announces 5 part benchmark US dollar bond sale

Q.  Which tech giant has announced a five part benchmark US dollar bond sale ahead of the pricing later on 29th June?
- Published on 30 Jun 16

a. Oracle
b. IBM
c. Cognizant
d. HCL

ANSWER: Oracle
 
Tech giant Oracle announced the five part benchmark US dollar bond sale ahead of pricing.
  • The borrower is approaching investors with 5,7, 10, 20 and 30-year bonds, with initial price talk set at T+110bp area, T+125bp area, T+135bp area, T+165bp-170bp area and T+185bp area.
  • Proceeds will be used for general corporate purposes including stock repurchases, dividend payments and debt referencing as well as future acquisitions
  • Ratings are A1/AA-/A+.
  • Oracle was last in the US dollar market in April 2015 when it raised USD 10 billion

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