ServiceNow CEO Bill McDermott. Photo credit: World Economic Forum / Jakob Polacsek, under Creative Commons license

Cloud software company ServiceNow has priced a public bond offering that’s intended to raise $1.5 billion to finance its operations. The Santa Clara-based company is issuing 1.4%-interest accruing senior notes that’ll be due by 2030 to raise the targeted amount, which will be put towards financing its operations and also repurchasing up to $500 million in previously issued bonds that are due by 2022. Investment banks including the likes of J.P. Morgan, Goldman Sachs, Morgan Stanley, Wells Fargo, and Barclays Capital are managing the bond offering.

ServiceNow intends to complete the bond offering on the 11th of August 2020.