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Microsoft sells $3.75 billion in first debt issue

Tuesday, May 12, 2009

Microsoft Corp. Monday sold a $3.75 billion debt issue in its first foray into the U.S. corporate bond market, joining a spate of companies taking advantage of beneficial borrowing conditions.

The cash-rich, "triple-A" rated Microsoft announced its first debt authorization last September, allowing it to issue up to $6 billion in debt. Monday's bond sale attracted well over $10 billion in demand, market sources said.

The sale included $2 billion of five-year notes yielding about 95 basis points over comparable U.S. Treasurys, $1 billion of 10-year notes yielding about 105 basis points over Treasurys and $750 million of 30-year bonds yielding about 105 basis points over Treasurys, according to IFR, a Thomson Reuters service.

Article sourced from http://money.cnn.com, click here to read full story.

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