Key facts
- Oracle plans to offer $10 billion of floating and fixed rate notes, according to an SEC filing reported by Reuters.
- Oracle has committed to limiting additional capital raised through fiscal 2030 to $20 billion, excluding refinancing.
- That $20 billion is expected to be split between $10 billion in equity and $10 billion in gross debt.
Oracle plans to offer $10 billion of floating and fixed rate notes, according to a filing with the US Securities and Exchange Commission, Reuters reported on November 2. The filing did not give the terms, pricing or timing of the sale.
The offering sits inside a funding plan Oracle has set out for its fiscal 2027 to fiscal 2030 investment cycle. The company has committed to limiting additional capital raised in the markets over that period to $20 billion, excluding refinancing of existing debt, split between $10 billion in equity and $10 billion in gross debt. That is in addition to a $20 billion at-the-market equity raise Oracle completed in the first quarter of fiscal 2027.
Oracle has said it expects capital expenditures to peak in fiscal 2027 and fiscal 2028 and to step down in fiscal 2029, when it targets positive free cash flow of at least $30 billion. It has also said growth will be self-funded from fiscal 2029 and that net debt to adjusted EBITDA will be below 3.5 times that year. The company has said its capital allocation priorities include maintaining investment-grade credit ratings and paying a dividend.