Oracle Corporation ORCL announced a massive $14 billion corporate bond sale this week. The company plans on using the proceeds for stock repurchases, dividend payments, debt refinancing and other budget items.
While certainly impressive, Oracle’s sale is not even one of the five biggest corporate bond sales of all time.
The Top 5
Here are the top five:
Last year, AT&T held a huge bond sale to finance its purchase of DirecTV, the largest U.S. satellite-TV provider. The deal went off without a hitch, and investor interest was reportedly four times the amount offered.
Back in May, Dell sold $20 billion in bonds to fund its buyout of EMC Corporation EMC. The deal was originally slated to raise $16 billion, but the total was upped to $20 billion due to overwhelming investor interest.
Actavis had no problems raising the funding it needed to buy Allergan in 2015. Teva Pharmaceutical Industries Ltd (ADR) TEVA then stepped in and scooped up Allergan’s generic drugs business.
This staggering bond sale earlier this year was intended to raise funding for a buyout of SABMiller (SABMiller plc (ADR) SBMRY). While it may not be the largest corporate bond sale in history, it did set the record for the most investor orders when it received $110 billion in demand.
Even with the surge in global demand for corporate bonds in the past two years, the largest deal in history has held its spot for three years now. Back in 2013, Verizon held this massive $49 billion sale to fund its buyout of Vodaphone Group Plc (ADR) VOD’s 45 percent stake in Verizon.
Disclosure: The author holds no position in the stocks mentioned.
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