- Microsoft is selling high-grade bonds for the first time in more than nine years, with maturities from two to 40 years across as many as 10 tranches.
- Initial price talk on the longest maturity, a 2066 note, is a premium of as much as 1.35 percentage points above Treasuries.
- Microsoft is looking to raise at least $25 billion, according to people familiar with the matter.
- MarketWatch frames the deal as investors becoming pickier about which AI borrowers they back.
Quotes
“Microsoft is looking to raise at least $25 billion from its first US investment-grade bond offering in nearly a decade”
“joining rivals in a borrowing spree to fund the artificial intelligence investment boom”