Overview

• Regulatory filings show Oracle raised about $18 billion, with proceeds earmarked for capital expenditures and other corporate uses, including potential debt repayment.
• The financing was marketed in as many as seven tranches, including a 40-year note discussed at roughly 1.65 percentage points over similar Treasuries, according to Bloomberg reporting.
• Oracle’s push follows sharply negative free cash flow of $5.9 billion in fiscal Q1 2026 and a capex surge to $27.4 billion, reflecting large AI and cloud buildouts.
• The company reported roughly $95 billion in long-term debt at the end of August, while Moody’s shifted its outlook to negative in July on expectations of sustained high leverage and cash outflows.
• Market gauges showed rising caution as credit-default swaps widened and shares slipped after the debt news, with the moves unfolding alongside a leadership change to co-CEOs Clay Magouyrk and Mike Sicilia.