Workday, Inc. entered into an Underwriting Agreement on October 21, 2026, with Morgan Stanley & Co. LLC, BofA Securities, Inc., Barclays Capital Inc., and Wells Fargo Securities, LLC. The agreement provides for the issuance and sale of $2.5 billion in aggregate principal amount of senior notes in a public offering.
The offering consists of four separate series of notes:
- $750.0 million of 5.700% senior notes due 2029
- $500.0 million of 6.000% senior notes due 2031
- $750.0 million of 6.300% senior notes due 2033
- $500.0 million of 6.500% senior notes due 2036
Workday completed the issuance and sale of the notes on October 23, 2026. The company estimates that the net proceeds from the offering will be approximately $2.47 billion, after deducting underwriting discounts and estimated offering expenses.
Workday intends to use the net proceeds for two primary purposes. First, the company plans to redeem, repay, repurchase, or otherwise retire $1.0 billion in aggregate principal amount of its 3.500% notes due April 1, 2027, prior to their maturity. Second, any remaining net proceeds will be used for general corporate purposes.
The notes are senior unsecured obligations of Workday and rank equally with all existing and future unsecured indebtedness. Interest on each series of notes is payable semi-annually in arrears on April 23 and October 23 of each year, commencing on April 23, 2027.
