Workday, Inc. (NASDAQ: WDAY), a company based in Pleasanton, California, announced on October 21, 2026, that it had priced its underwritten, registered public offering of $2.5 billion in aggregate principal amount of senior notes. This offering is anticipated to officially close on October 23, 2026, pending the fulfillment of customary closing conditions.
The total $2.5 billion offering is composed of several distinct segments of senior notes. These include $750.0 million in notes with an interest rate of 5.700%, which are set to mature in 2029. A second tranche consists of $500.0 million in notes carrying a 6.000% interest rate, with a maturity date of 2031. Furthermore, the offering comprises $750.0 million in notes featuring a 6.300% interest rate, due in 2033. The final portion of the offering is $500.0 million in notes, which bear a 6.500% interest rate and are scheduled to mature in 2036.
Workday intends to allocate the net proceeds from this offering primarily towards managing its existing debt obligations. Specifically, the company plans to redeem, repay, repurchase, or otherwise retire $1.0 billion in aggregate principal amount of its 3.500% notes. These particular notes are due to mature on April 1, 2027. Any net proceeds that remain after this debt management will be utilized for Workday’s general corporate purposes.
The offering is structured as an underwritten, registered public offering. It is being made under an automatically effective shelf registration statement on Form S-3, which Workday previously filed with the Securities and Exchange Commission (SEC). The transaction is executed solely through a prospectus supplement and an accompanying prospectus. Several financial institutions are serving in the capacity of joint book-running managers for this offering. These firms include Morgan Stanley, BofA Securities, Barclays, and Wells Fargo Securities.
Workday, Inc. describes itself as a trusted platform for human resources (HR), finance, and information technology (IT), operating at the core functions of enterprises where precision is critical. The company highlights its approach to artificial intelligence (AI), stating it involves "tightly coupling AI with the context, guardrails, and trusted processes that run the business." This method is designed to enable AI agents that are capable of driving measurable outcomes, rather than just assisting with work. Workday reports that more than 11,500 organizations globally, including over 65% of the Fortune 500 companies, rely on its services.
For those considering an investment, Workday advises reviewing the prospectus supplement and the accompanying prospectus. Additionally, potential investors should consult other documents the company has filed or will file with the SEC. These materials provide more comprehensive information about Workday and the specific details of this offering. These documents are available for free by searching the SEC’s online database, known as EDGAR, which can be accessed through the SEC website. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus, and subsequently the final prospectus supplement when available, may be obtained by contacting any of the joint book-running managers of the offering. The company’s press release clarifies that it does not constitute an offer to sell the notes, nor is it a solicitation of an offer to buy them. Furthermore, it states there shall be no sale of the notes in any jurisdiction where such an offer, solicitation, or sale would be unlawful without prior registration or qualification under local securities laws.
Workday’s announcement includes standard forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements address the anticipated terms of the offering, its expected closing, and the planned use of the net proceeds. The company states that these forward-looking statements are based on currently available information, current beliefs, expectations, and assumptions. They are subject to inherent risks, uncertainties, assumptions, and evolving circumstances that can be difficult to foresee and are often beyond Workday’s direct control. If these risks come to pass, assumptions prove incorrect, or unforeseen changes occur, actual results could differ materially from those implied by these statements. Therefore, Workday advises against undue reliance on any forward-looking statements. The company also notes that these risks are described in its filings with the SEC, including its most recent reports on Form 10-Q or Form 10-K, and other reports filed with the SEC over time. Workday has no obligation and does not intend to update any such forward-looking statements after the date of the release, except as required by law.