Intuit Inc. has priced $1 billion of public debt and plans to use the funds to repay bridge debt it took on to finance last month's acquisition of the Calabasas, Calif., online banking technology provider Digital Insight Corp.
The new debt offering is made up of $500 million of five-year notes priced at 5.4% and $500 million of 10-year notes priced at 5.81%, Intuit said last week.
The Mountain View, Calif., financial software vendor paid $1.33 billion for Digital Insight.
Intuit, long known for its financial management software for consumers and small businesses and for its tax preparation software, moved into the payments market by acquiring Digital Insight. In December, Intuit announced that it was buying the transaction processing software vendor Electronic Clearing House Co.
