Oracle looks to raise $18 billion in debt
Sept 24 (Reuters) - Oracle ORCL.N is aiming to raise $18 billion in debt, a regulatory filing showed on Wednesday, as the company looks to invest heavily in building out cloud infrastructure to cater to burgeoning AI demand.
The company has been ramping up spending to deliver on cloud infrastructure contracts with the likes of OpenAI, deals that are expected to significantly lift its capital expenditure.
The cloud infrastructure and software maker is selling debt in six parts, according to a pricing term sheet filed with the U.S. Securities and Exchange Commission.
The company said in a separate filing earlier on Wednesday that proceeds from bond sales could be used for general corporate purposes, which may include stock repurchases, repayment of debt and acquisitions.
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