Salesforce is preparing a debt offering to raise up to $25 billion, with a target of at least $20 billion from a U.S. bond sale that could occur as soon as this week.
The funds are intended to help finance a major share repurchase program. The company has enlisted several major banks to arrange investor calls for the offering.
This follows Salesforce's recent announcement of a $50 billion stock buyback program and a dividend increase.
Main Topics: Salesforce's planned debt offering, the purpose of the offering (share buyback), and the historical context of its recent financial actions.
Cloud software provider Salesforce is preparing to raise as much as $25 billion in a debt offering to help fund a major share buyback, âBloomberg News reported â on â Tuesday, citing people with knowledge of the matter.
The company is targeting a US bond offering of at least $20 billion, the report said. The â notes could âbe sold as soon as this week, but â the timing could change, Bloomberg said.
Salesforce mandated JPMorgan Chase, Bank of America, Barclays, Citigroup and Wells Fargo to arrange fixed-income investor calls for Tuesday, the report added. Salesforce did ânot immediately respond to a Reuters request for comment.
Last âmonth, âSalesforce rolled â out a $50 billion stock repurchase program and lifted its dividend by 5.8%. The company had issued US bonds in 2021, securing $8 billion to support its Slack acquisition.
The company is targeting a US bond offering of at least $20 billion, the report said. The â notes could âbe sold as soon as this week, but â the timing could change, Bloomberg said.
Salesforce mandated JPMorgan Chase, Bank of America, Barclays, Citigroup and Wells Fargo to arrange fixed-income investor calls for Tuesday, the report added. Salesforce did ânot immediately respond to a Reuters request for comment.
Last âmonth, âSalesforce rolled â out a $50 billion stock repurchase program and lifted its dividend by 5.8%. The company had issued US bonds in 2021, securing $8 billion to support its Slack acquisition.