Workday priced $2.5bn of debt. It plans to retire $1bn of older notes.
It had priced an offering of senior notes, Workday said.
The company intended to use part of the proceeds to redeem existing notes due in April 2027 and the remainder for general corporate purposes.
Its announcement describes several maturities extending into 2036. It priced the borrowing ahead of the planned closing, which the release expected on 23 October, subject to customary conditions.
Pricing and completion are separate events. This post reports the pricing announcement; it does not infer that the transaction closed merely because its expected closing date has passed.
Our reading: the stated use of proceeds matters when interpreting the headline amount, because this is partly a refinancing plan. Connecting the remaining proceeds to an unrelated AI deal would assign the borrowing a purpose that the company has not stated in this release.
Sources
Our file on Workday
- 28 Oct
Workday claims 30% to 40% savings for early users of finance AI, without saying in time or money. Use costs paid credits.
- 25 Oct
AWS announced $1 billion for engineers who build AI inside client firms. Gartner advises clients to plan the exit before they arrive.
- 17 Oct
Workday's CEO saw ten layers between him and a developer. He cut 525 jobs.
- 16 Oct
Workday told analysts customers spend tens of millions on outsourcing. It wants that budget.
- 15 Oct
Workday agreed to buy C1.ai, which controls what AI agents can access.
Every story here is open to read. The ERP LEADERS brief goes one step further.
The day in enterprise software, in one email: the stories that matter, the failures with their figures, one case taken apart. Read a sample or sign up for the brief.
Welcome back. · Issue 01
