Oracle Corp. bonds rallied on Thursday even as its shares tumbled, after the database giant calmed debt investors by saying it doesn’t expect additional bond issuance this calendar year and outlining plans to raise $40 billion of debt and equity in the current fiscal year.
The spread for the company’s 3.65% note due 2041 narrowed 0.15 percentage point to 2 percentage points, according to Trace data as of 12 p.m. Eastern time, while Oracle’s 6.9% bond due 2052 tightened 0.12 percentage point to 2.09 points.
