Workday plans to price three series of notes

By Rebecca Melvin

Concord, N.H., March 30 – Workday Inc. intends to sell three series of dollar-denominated fixed-rate notes (Baa2/BBB), according to a 424B5 filing with the Securities and Exchange Commission.

The notes have a make-whole call followed by a par call.

BofA Securities, Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the joint bookrunning managers for the offering.

U.S. Bank Trust Co., NA is the trustee.

Counsel to the issuer is provided by Fenwick & West LLP and to the underwriters by Davis Polk & Wardwell LLP.

Proceeds will be used for general corporate purposes, which includes repaying $693.8 million outstanding under the company’s senior term loan facility and which may include repaying the $1.15 billion of its 0.25% convertible senior notes due 2022.

The provider of financial management and human capital management software is based in Pleasanton, Calif.

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