Salesforce completes $25.5B senior notes offering across eight tranches…
Salesforce completed a registered public offering of $25.5 billion in senior notes across eight tranches on March 13, 2026, with maturities ranging from 2028 to 2066 and interest rates from 4.500% to 6.700%. The company executed the Third Supplemental Indenture with U.S. Bank Trust Company as trustee to govern the notes.
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Our Take
→Salesforce raised $25.5B across eight tranches — the longest-dated 40-year notes priced at 6.70% while the shortest 2028s yield 4.50%. This maturity ladder structure is unusual for tech mega-caps and suggests management is locking in long-term capital ahead of elevated refinancing needs or M&A optionality.
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