Adobe Inc. has announced the issuance of $2 billion in aggregate principal amount of unsecured notes, divided into three tranches: $500 million 4.850% Notes due 2027, $750 million 4.800% Notes due 2029, and $750 million 4.950% Notes due 2034. The interest on these notes will be paid semi-annually on April 4 and October 4, starting October 4, 2024. Adobe has the option to redeem the notes at any time at the applicable redemption prices. The notes are equal in payment rights to Adobe's other existing and future unsecured and unsubordinated indebtedness and are structurally junior to any indebtedness of Adobe's subsidiaries. The offering is managed by a syndicate of banks, with BofA Securities, J.P. Morgan, SOCIETE GENERALE, US Bancorp, and Wells Fargo Securities as joint book-running managers. The proceeds...Show More

Adobe Inc. has announced the issuance of $2 billion in aggregate principal amount of unsecured notes, divided into three tranches: $500 million 4.850% Notes due 2027, $750 million 4.800% Notes due 2029, and $750 million 4.950% Notes due 2034. The interest on these notes will be paid semi-annually on April 4 and October 4, starting October 4, 2024. Adobe has the option to redeem the notes at any time at the applicable redemption prices. The notes are equal in payment rights to Adobe's other existing and future unsecured and unsubordinated indebtedness and are structurally junior to any indebtedness of Adobe's subsidiaries. The offering is managed by a syndicate of banks, with BofA Securities, J.P. Morgan, SOCIETE GENERALE, US Bancorp, and Wells Fargo Securities as joint book-running managers. The proceeds from the sale, before expenses, are estimated at approximately $1.99 billion and are intended for general corporate purposes, which may include debt repayment, stock repurchases, capital expenditures, and acquisitions. The notes will be issued in book-entry form only and will not be listed on any securities exchange. The underwriters expect to deliver the notes to purchasers on or about April 4, 2024.