Salesforce disclosed it has entered into accelerated share repurchase (ASR) agreements to buy back $25 billion of its common stock. This repurchase is being funded by the net proceeds from a concurrent registered public offering of $25 billion in aggregate principal amount of senior notes.
Key Details
- Accelerated Share Repurchase (ASR): The company will pay an aggregate of $25 billion on March 16, 2026, and receive an initial delivery of approximately 80% of the shares. Final settlement is expected in the fourth quarter of 2026.
- Senior Notes Offering: To fund the ASR, Salesforce is issuing $25 billion in senior notes across eight tranches with maturities ranging from 2028 to 2066. The offering is expected to close on March 13, 2026, with net proceeds estimated at $24.885 billion.
- Credit Agreement Refinancing: Concurrently, the company entered into a new $6 billion five-year credit agreement, using the proceeds to repay in full its borrowings under two existing credit facilities totaling $6 billion.