Oracle to exchange notes for transferable ones

Oracle to exchange $3.25 billion in notes for transferable ones

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ORCL34.09-0.31

REDWOOD SHORES, Calif. (AP) -- Oracle Corp. said Thursday that it would exchange up to $1 billion of its 3.875 percent interest notes due 2020 and $2.25 billion of its 5.375 percent interest notes due 2040 with nearly identical notes that will not be restricted from being transferred.

Oracle shares rose $1.26, or 3.9 percent, to close at $33.66 on Thursday amid a broad stock rally.

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