In a move that surprised a fair few, Microsoft Corp moved to sell bonds worth 17 billion dollars.
Catching investors off-guard, this move by the tech giants, so soon after it sold $19.5 billion worth of bonds last August was met with a somewhat surprisingly warm response by the market which in hand, led to them increasing the sale value from the initial $14 billion to the final amount which is estimated at around $17 billion.
All the proceedings from the aforementioned seven-part deal, which includes a ten-year bond with an interest rate of 0.85 percentage point above Treasurys, are expected to be used for general corporate purposes. Alongside the repayment of the short-term debt ensued after Microsoft’s $26 billion purchase of LinkedIn Corp.
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