Intuit Chairman Brad Smith. Photo credit: JD Lasica on Flickr, under Creative Commons license

Financial software company Intuit has forged ahead with a bond offering that’s intended to raise $2 billion, possibly to help fund the company’s $7.1 billion cash and stock acquisition of personal finance company Credit Karma. Intuit has priced its offering for $2 billion worth of bonds and expects to close the bond sale on the 29th of June, 2020. Intuit intends to use the bond proceeds for general corporate purposes but says it could tap into it to fund its acquisition of Credit Karma. As of April end, Intuit reported having $4 billion in cash and equivalents so the company isn’t really hurting for cash.

Intuit’s $2 billion bond sale consists of four $500 million tranches due by the years 2023, 2025, 2027, and 2030. The 2023-due bonds carry the least interest rate of 0.650% while the 2030-due bonds carry the highest interest rate of 1.650%. Investment banks including Wells Fargo, J.P. Morgan, US Bancorp, and BofA Securities are acting as book-runners for the bond offering.