Date Posted: 6/1/2005
Oracle Pays Off PeopleSoft Loan
Oracle Corp. Pays Off Loan From PeopleSoft Acquisition Ahead of Schedule
REDWOOD SHORES, Calif. (AP) -- Oracle Corp., one of the nation's largest makers of business software, said Wednesday that it has paid of the remaining balance on the $9.5 billion bridge loan it took out accompanying its acquisition of rival software maker PeopleSoft Inc.
"We were able to reduce substantially our acquisition-related debt well ahead of plan," said Safra Catz, Oracle president and interim chief financial officer, in a statement. "We anticipate we will pay down our remaining short-term debt over the next several quarters."
Oracle shares closed up 5 cents at $12.85 on the Nasdaq.
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