Oracle set a $20 billion limit on new borrowing until 2030. A week later it offered bonds worth half that limit.
On Monday Oracle told investors it is offering $10 billion in bonds together with $10 billion in new shares, The Register reported.
The week before, it said it would limit new borrowing to $20 billion until the end of its 2030 financial year, in May 2030.
Oracle's CFO Hilary Maxson had told analysts the company would look to borrow the $20 billion before May 2027, implying no new borrowing for the two years after, The Register wrote. "That's a real commitment," she said.
Oracle's notice says the money can go to working capital, capital spending, acquisitions, dividends, buybacks and debt repayment. Oracle spent $55.7 billion on capital projects in the year to May 2026 and plans $90 billion to $95 billion in fiscal 2027, which ends in May.
The cap covers borrowing. The share sale sits outside it, so half of Monday's $20 billion does not count towards the limit. Last week Oracle also said it will charge customers for AI use on top of seat subscriptions.
Sources
Our file on Oracle
- 5 Nov
Oracle dropped an estimated $7 billion deal to rent AI chips to Tencent, the FT reported. US officials had raised concerns.
- 3 Nov
Oracle NetSuite user Brennan Industries says AI builds up to five ERP apps a day. ERP architects maintain that code.
- 2 Nov
Microsoft, Oracle and three peers cut buybacks 83% to $13.6bn. AI spending is eating their cash, a Reuters analysis found.
- 2 Nov
Erasmus University's move from SAP to Oracle is 70% over budget, at €20.2m. A one-year delay cost €4.5m of that.
- 30 Oct
Oracle's co-CEO says 'up to' figures in data-centre press releases mean nothing. Separately, diginomica reported a power delay at Oracle's Wisconsin site.
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