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REDWOOD SHORES, Calif. - Business software maker Oracle Corp. said Thursday it priced an offering of three series of investment-grade notes with a total value of $5 billion, the proceeds of which will fund its purchase of BEA Systems Inc.
The offering include $1.25 billion of notes due 2013 which will bear interest at the rate of 4.95 percent per year, $2.50 billion of notes due 2018 which will bear interest at 5.75 percent per year and $1.25 billion of notes due 2038 which will bear interest at 6.50 percent per year.
Oracle said interest for the notes will be payable twice a year on April 15 and October 15.
In addition to funding the acquisition, the company plans to use proceeds for expenses related to the purchase and general corporate purposes.
The offering is being made through an underwriting group led by Citi, Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. Oracle expects the offering will close on April 9.
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