Salesforce Sells $8 Billion of Bonds to Fund Slack Acquisition
- Debt to help pay for purchase to serve new employee groups
- Investors had put in orders for $32 billion of the new notes
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Salesforce.com Inc. wrapped up an $8 billion bond sale Tuesday to fund its $27.7 billion acquisition of Slack Technologies Inc., a deal designed to help the workplace communications platform reach a wider swath of corporate employees.
The San Francisco-based company sold the debt in six parts. The longest portion, a 40-year security, will yield 95 basis points above Treasuries, according to a person familiar with the deal, tighter than initial price discussions of around 115 basis points. The deal had amassed more than $32 billion of orders, the person said.