Oracle’s $20 Billion Senior Notes Offering

Davis Polk acted as special counsel for Oracle Corporation, Simpson Thacher recently represented the underwriters in its offering.

Oracle Corporation completed the offering of $3.5 billion aggregate principal amount of 2.5% Senior Notes due 2025, $2.25 billion aggregate principal amount of 2.8% Senior Notes due 2027, $3.25 billion aggregate principal amount of 2.95% Senior Notes due 2030, $3 billion aggregate principal amount of 3.6% Senior Notes due 2040, $4.5 billion aggregate principal amount of 3.6% Senior Notes due 2050 and $3.5 billion aggregate principal amount of 3.85% Senior Notes due 2060.

BNY Mellon Capital Markets, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC led the underwriters.

The net proceeds of the offerings are intended to be used for general corporate purposes, which may include stock repurchases, payment of cash dividends on common stock, repayment of indebtedness and future acquisitions.

Oracle provides products and services that address enterprise information technology (IT) environments, including applications and infrastructure offerings that are delivered worldwide through a variety of flexible and interoperable IT deployment models.

The Simpson Thacher team advising the underwriters included Dan Webb (Picture), Bill Brentani, Andy Roy, Adam Spaulding and Michaela Dion (Capital Markets); Katharine Moir and Eli Shalam (Tax); Marcela Robledo and Corina McIntyre (IP); and Jennie Getsin (FINRA and Blue Sky).

Involved fees earner: William Brentani – Simpson Thacher & Bartlett; Michaela Dion – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Corina McIntyre – Simpson Thacher & Bartlett; Katharine Moir – Simpson Thacher & Bartlett; Marcela Robledo – Simpson Thacher & Bartlett; Andrew Roy – Simpson Thacher & Bartlett; Eli Shalam – Simpson Thacher & Bartlett; Adam Spaulding – Simpson Thacher & Bartlett; Daniel Webb – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Bank of America Securities; BNY Mellon Capital Markets; J.P. Morgan Securities LLC; Wells Fargo Securities;

Author: Ambrogio Visconti