Microsoft Launch Biggest Bond Issue Of The Year
Microsoft Launch Biggest Bond Issue Of The Year following in the footsteps of Apple. They issued a $10.75 billion (about £7 billion) bond issue which is the largest this year. One of the reasons is to return funds to shareholders. The deal was actually increased from an initial $7 billion (about £4.6 billion), after they were inundated with around $37 billion (about £24 billion) of demand.
The bond offering has come about just a week after Apple stormed into the $ market with a $6.5 billion offering which we also reported recently. Both companies have taken advantage of massive worldwide investor demand for high quality corporate bonds. It is possible that this deal though could lose Microsoft their Moodys Triple A rating, but only time will tell.