INTU INTUIT INC.
Price Chart
Executive Summary
Intuit Inc. filed a preliminary prospectus supplement for a debt offering of two series of senior unsecured notes with undisclosed principal amounts, interest rates, and maturities. Proceeds are intended for general corporate purposes, which may include refinancing $750M of 5.250% Senior Notes due 2026 and $500M of 1.350% Senior Notes due 2027. The filing is a routine capital markets transaction for an investment-grade issuer and does not contain any material financial results or operational updates.
Actionable Insight
This is a routine debt refinancing by a large-cap investment-grade issuer with strong liquidity ($4.7B cash vs. $6.2B debt). Monitor the final pricing terms (spreads, tenors) for read on credit demand. No material impact on common equity expected — the transaction is leverage-neutral and extends maturities.
Key Facts
- Intuit is offering two series of senior unsecured notes with undisclosed aggregate principal amounts, interest rates, and maturities.
- Net proceeds will be used for general corporate purposes, which may include refinancing $750M of 5.250% Senior Notes due September 2026 and $500M of 1.350% Senior Notes due July 2027.
- As of April 30, 2026, Intuit had $6.2B of outstanding consolidated indebtedness ($5.0B unsecured, $1.2B secured) and $4.681B in cash and cash equivalents.
- The notes will be senior unsecured obligations ranking equally with existing unsecured debt and will not be listed on any exchange.
- The offering is underwritten by BofA Securities, J.P. Morgan, and Scotiabank.
- The filing is a preliminary prospectus supplement dated June 8, 2026, subject to completion.
Financial Impact
Offering size undisclosed; net proceeds expected to be used to refinance $1.25B of near-term maturities (2026 and 2027 notes), likely extending debt maturity profile at potentially lower blended cost.
Risk Factors
- No established trading market for the notes; liquidity may be limited.
- Notes are structurally subordinated to $9.7B of subsidiary liabilities and effectively subordinated to $1.2B of secured debt.
- Indenture contains only limited negative covenants and no financial covenants or change-of-control protection.
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001193125-26-260800 |
| Document: 0001193125-26-260800-index-headers.html | 0001193125-26-260800 |
| Document: 0001193125-26-260800-index.html | 0001193125-26-260800 |
| Document: 0001193125-26-260800.txt | 0001193125-26-260800 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
1d ago
|
8-K
| $278.02 awaiting T+1 | awaiting T+1 | — | $276.73 (−0.46%) |
|
Jun 8, 2026
5d ago
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424B5
| $295.80 awaiting T+1 | awaiting T+1 | — | $276.73 (−6.45%) |
|
Jun 2, 2026
11d ago
|
ANALYST-DOWNGRADE
| $321.98 $311.34 | ▲ +3.30% | ▲ +2.61% | $276.73 (+14.05%) |
|
May 31, 2026
12d ago
|
ANALYST-UPGRADE
| $452.74 $439.27 | ▼ −2.98% | ▼ −2.87% | $276.73 (−38.88%) |
|
May 21, 2026
22d ago
|
ANALYST-DOWNGRADE
| $305.50 $318.61 | ▼ −4.29% | ▼ −3.85% | $276.73 (+9.42%) |
|
May 1, 2026
6w ago
|
ANALYST-UPGRADE
| $452.74 $439.27 | ▼ −2.98% | ▼ −2.87% | $276.73 (−38.88%) |
US Market Status
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