BUSINESS BRIEFING / SOFTWARE
Times Wire Reports
Microsoft Corp. said it sold $3.75 billion of debt in its first bond offering, taking advantage of its top credit ratings to help fund a share buyback and technology investments.
The sale was split among $2 billion of 2.95%, five-year notes; $1 billion of 4.2%, 10-year debt; and $750 million of 5.2%, 30-year bonds, said a person familiar with the offering who declined to be identified.
Microsoft is seizing on a credit-market rally to help fund a $40-billion stock repurchase program. The company, which for years resisted shareholder demands to add debt, is also investing in data centers to compete against Google Inc. in Internet search.
