Simpson Thacher Represents Administrative Agent in Financing Transactions for Oracle
03.15.22
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Simpson Thacher represented Bank of America, as administrative agent, in connection with Oracle Corporation’s two credit facilities. The first is a $15.7 billion unsecured 364-day delayed draw term loan. The proceeds of borrowings under this facility may be used to finance Oracle’s acquisition of Cerner Corporation, Oracle’s refinancing of indebtedness in connection with such acquisition and to pay related fees and expenses. The second facility is a five year $6 billion unsecured revolving credit facility. The borrowing under this revolving facility may be used for working capital purposes and for other general corporate purposes.
Oracle provides products and services that address enterprise information technology (IT) environments, including applications and infrastructure offerings that are delivered worldwide through a variety of flexible and interoperable IT deployment models.
The Simpson Thacher team included William Sheehan, Matthew Farrell and Jule Walsh (Banking & Credit); Michael Mann and Matt Lester (Tax); Mike Isby (Environmental); and George Gerstein (ERISA).