NEW YORK (TheStreet) -- Oracle Corp. (ORCL) is planning a $10 billion bond sale in seven parts to help finance the $5.3 billion purchase of Micros Systems Inc. (MCRS) that was announced last week, Bloomberg reports.
Proceeds will be used for general corporate purposes, which may include stock repurchases, dividend payments, refinancing of debt and acquisitions including the company's pending purchase of Micros, according to a regulatory filing.
The offering may include $1 billion of three-year and $750 million of five-year floating-rate notes, and the company may also sell $2 billion each of 10-year, fixed-rate bonds and securities due in 2019, sources say, according to Bloomberg.
Shares of Oracle are slightly higher at $40.60.
TheStreet Ratings team rates ORACLE CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate ORACLE CORP (ORCL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance and revenue growth. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: