Salesforce (NYSE: CRM) announced it has priced a $25 billion underwritten offering of senior notes, with the offering expected to close on March 13, 2026, subject to customary closing conditions.

The company plans to use all net proceeds from the offering to repurchase $25 billion worth of its common stock through accelerated share repurchase agreements with financial institution counterparties. These ASR agreements were entered into immediately following the pricing of the offering, with prepayment and initial share delivery expected to occur on March 16, 2026.

J.P. Morgan Securities LLC, BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are serving as joint book-running managers for the notes offering.

Salesforce has filed a registration statement and preliminary prospectus supplement with the U.S. Securities and Exchange Commission for the offering. The company noted that this announcement does not constitute an offer to sell or solicitation to buy the notes.

The press release contained forward-looking statements about the offering and intended use of proceeds, which the company said are subject to risks and uncertainties that could cause actual results to differ materially from expectations.