NOTES PAYABLE AND OTHER BORROWINGS

6 Months Ended

Nov. 30, 2024

Debt Disclosure [Abstract]

NOTES PAYABLE AND OTHER BORROWINGS

3.NOTES PAYABLE AND OTHER BORROWINGS

Senior Notes

In September 2024, we issued $6.3 billion, par value, of fixed-rate senior notes comprised of the following as of November 30, 2024:

	November 30, 2024
(Dollars in millions)	Amount			Effective Interest Rate
$1,500, 4.20%, due September 2029	$	1,500		4.27%
$1,750, 4.70%, due September 2034		1,750		4.77%
$1,750, 5.375%, due September 2054		1,750		5.43%
$1,250, 5.50%, due September 2064		1,250		5.55%
Total fixed rate senior notes	$	6,250
Unamortized discount/issuance costs		(39	)
Total fixed-rate senior notes, net	$	6,211

We issued the senior notes to repay all or a portion of $2.0 billion of senior notes due November 2024, $3.5 billion of senior notes due April 2025 and $2.5 billion of senior notes due May 2025 and to pay accrued interest and any related premiums, fees and expenses in connection therewith; to repay all or a portion of commercial paper notes outstanding; and to use any remaining net proceeds from the borrowing for general corporate purposes, which may include stock repurchases, payment of cash dividends on our common stock, repayment of other indebtedness and future acquisitions. The interest is payable semi-annually. We may redeem some or all of the senior notes of each series prior to their maturity, subject to certain restrictions, and the payment of an applicable make-whole premium in certain instances.

The senior notes rank pari passu with any other existing and future unsecured and unsubordinated indebtedness of Oracle. All existing and future indebtedness and liabilities of the subsidiaries of Oracle are or will be effectively senior to the senior notes. We were in compliance with all senior notes-related covenants as of November 30, 2024. The material terms and conditions of the senior notes are set forth in, and the foregoing description of the senior notes is qualified in its entirety by reference to, the Officers’ Certificate filed herewith as Exhibit 4.01 and incorporated by reference herein.