Microsoft Raises $4.75b
Microsoft one of the four non financial company with triple A ratings raised 4.75b dollar. (The other AAA’s are Johnson & Johnson, Exxon Mobil Corp, ADP Inc.)
1 billion notes due in 2013 with 0.875%
1.75 billion due in 2015 1.625%
those are the lowest interest rates of more than 3.500 securities in barclays capital US corporate index of investment grade debentures
that is also the lowest in Microsoft history.
why will they use it?
Proceeds MAY BE used to fund working capital, CAPEX, stock buybacks and acquisitions.
Spread is 25 basis points more than similar maturies
Barclays Capital, Citigroup Inc and JPMorgan Chase were the underwriters.