Oracle Corporation Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Oracle Corporation on July 16, 2013. The report discloses the consummation of a debt issuance event under Item 8.01 (Other Events).
Key Financial Metrics
The filing details the issuance of $3.00 billion in principal amount of Notes. The filing text does not provide clear values for revenue, profit, cash flow, margins, or existing liquidity metrics, as this report focuses solely on the debt transaction.
- Total Debt Issued: $3.00 billion
- Tranche 1: $500 million Floating Rate Notes due 2019
- Tranche 2: $1.5 billion 2.375% Notes due 2019
- Tranche 3: $1.0 billion 3.625% Notes due 2023
Material Changes
On July 16, 2013, Oracle consummated the sale of the Notes pursuant to an underwriting agreement dated July 9, 2013. The underwriters included Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, and HSBC Securities (USA) Inc. This transaction increases the company's outstanding debt obligations by $3.00 billion.
Guidance, Outlook, and Risks
The filing does not contain management commentary, forward-looking guidance, or specific risk factors beyond the standard disclosure of the debt terms. The Notes were issued under an existing Indenture dated January 13, 2006, as amended, and pursuant to a Registration Statement on Form S-3 filed on April 15, 2013.
Investor Verification Checklist
- Verify the specific interest rate reset mechanism for the $500 million Floating Rate Notes.
- Review the full Indenture and First Supplemental Indenture for covenants and default provisions.
- Confirm the use of proceeds from the $3.00 billion issuance in subsequent financial reports.
- Check the impact of this new debt on the company's leverage ratios in the next quarterly filing.