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Updated: 12/1/2009 4:01 PM					Sponsored by:
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Oracle prices offering of $4.5 billion in notes

By Associated Press
July 1, 2009 | Comments (0)

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Software company Oracle Corp. said Tuesday it priced an offering of $4.5 billion in debt and plans to use a portion of the proceeds to finance its proposed acquisition of Sun Microsystems Inc.

Oracle is selling $1.5 billion in notes due in 2014. The notes will carry an annual interest rate of 3.75 percent. The company is selling $1.75 billion of notes due in 2019 that will have an interest rate of 5 percent per year. Oracle is selling an additional $1.25 billion in 30-year notes that will carry an annual interest rate of 6.125 percent.

The Redwood Shores, Calif.-based company said it also plans to use the money from the notes sale for general corporate purposes.

Oracle agreed in April to purchase Sun Microsystems, a computer-server maker, for $7.4 billion. The deal is expected to close this summer.

The note offering is expected to settle on July 8.

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