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Oracle Sells $4.5 Billion Debt


Oracle Corporation, the third-largest global software maker, announced yesterday its plan to sell $4.5 billion of its debt to prepare for future acquisitions, including its offer to purchase Sun Microsystems Inc. The debt will be sold in three parts; $1.5 billion at an annual interest rate of %3.75 maturing in 2014, $1.75 billion with an annual interest rate of %5 that will mature in 2019 and $1.25 billion set at %6.125 to mature in 30 years. Oracle note offering will end July 8th.

The leading managers of the sale are Bank of America, Morgan Stanley and Wachovia. In April Oracle agreed to purchase Sun Microsystems for $7.4 billion, the transition is expected to be finished by the end of August.

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