Microsoft enters bond market

The software giant set out plans for three bond offerings, with maturities of five, 10 and 30 years. Microsoft will now have upwards of $30bn of cash and equivalents on its balance sheet, with the issue believed to be up to three times over subscribed. Moody's has given an AAA rating to Microsoft's issue, while Fitch rated the proposed notes at AA+. The $3.75bn is understood to be raised in three parts; a $2bn five-year bond, a $1bn ten-year bond, and a $750m 30-year bond. Investment Week