Investors piled into Oracle’s latest $25bn bond offering on Monday after the software company pledged to preserve its investment-grade credit rating by keeping its debt load in check amid growing concern over AI spending.
The blockbuster bond deal, which contains eight parts of debt with maturities ranging from three to 40 years, attracted an order book of $127bn during its peak, according to people familiar with the transaction.
Bond investors were reassured Oracle was taking steps to limit borrowing by also issuing new equity to help fund its massive AI capital expenditure, as the tech giant’s growing debt burden has weighed on its stock and bond prices in the past few months.
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