Movement Alert｜Workday Intraday Rise 3.01% in Regular Trading, Senior Notes Offering Supports Debt Refinancing Plan

Market Focus10-23

On October 23, Workday recorded an Intraday Rise of 3.01% in Regular Trading, trading at $209.09 per share, with turnover of $273 million.

The clearest recent catalyst is Workday’s pricing of a $2.5 billion public offering of senior notes announced on October 22, with proceeds planned in part to redeem, repay, repurchase or retire $1 billion of 3.5% notes due April 1, and the remainder for general corporate purposes.

The financing was split into $750 million of 5.7% notes due 2029, $500 million of 6.0% notes due 2031, $750 million of 6.3% notes due 2033, and $500 million of 6.5% notes due 2036, with closing expected on October 24 subject to customary conditions. The transaction points to proactive liability management and balance-sheet flexibility. Earlier in October, analyst views on Workday were mixed, with Stifel raising its target price while KeyBanc downgraded the stock to neutral.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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