Salesforce announced that it has priced an underwritten public offering totaling $25 billion in senior notes as the cloud software company moves to finance a major share repurchase.
The offering is expected to close on March 13, 2026, subject to customary closing conditions.
Salesforce said it plans to use all net proceeds from the offering, after underwriting discounts and estimated expenses, to repurchase shares of its common stock through accelerated share repurchase agreements with financial institution counterparties.
Under the agreements, Salesforce will repurchase an aggregate of $25 billion of its common stock. The prepayment and initial share delivery associated with the accelerated share repurchase transactions are expected to occur on March 16, 2026.
J.P. Morgan Securities, BofA Securities, Barclays Capital, Citigroup Global Markets and Wells Fargo Securities are serving as joint book-running managers for the offering.
Salesforce also noted that it has filed a registration statement, including a prospectus and preliminary prospectus supplement, with the U.S. Securities and Exchange Commission related to the offering.
The company said the announcement does not constitute an offer to sell or a solicitation of an offer to buy the notes in any jurisdiction where such an offer or sale would be unlawful.
