Financing ·
Prices $2.5B of senior notes due 2029 through 2036 to refinance existing debt
WDAYWorkday, Inc.
Workday issued and sold $2.5 billion in aggregate principal amount of senior unsecured notes across four tranches: $750 million at 5.700% due 2029, $500 million at 6.000% due 2031, $750 million at 6.300% due 2033, and $500 million at 6.500% due 2036. The company estimates net proceeds of approximately $2.47 billion after underwriting discounts and offering expenses. Workday intends to use the majority of these funds to redeem or retire its existing $1.0 billion in 3.500% notes due April 2027, with any remaining proceeds allocated for general corporate purposes. The company develops enterprise cloud applications for finance and human resources.