Summary by Moomoo AI
On April 1, 2024, Adobe Inc. entered into an underwriting agreement with a consortium of banks including BofA Securities, J.P. Morgan Securities, SG Americas Securities, U.S. Bancorp Investments, and Wells Fargo Securities for the issuance and sale of $2 billion in notes. The offering, completed on April 4, 2024, included $500 million of 4.850% notes due in 2027, $750 million of 4.800% notes due in 2029, and $750 million of 4.950% notes due in 2034. The proceeds from the sale, amounting to approximately $1.99 billion after expenses, are intended for general corporate purposes such as debt repayment, stock repurchases, capital expenditures, and potential acquisitions. The notes were issued under an existing indenture with Computershare Trust Company, N.A., and interest payments are scheduled semi-annually starting October 4, 2024. Adobe retains the option to redeem the notes before their respective maturity dates under certain conditions.