Microsoft sells US$19.75b of bonds in biggest sale
Investors put in more than US$50b of orders for the deal; strong demand helps it to borrow at lower rates than it paid for the US$13b of bonds that it raised in October
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New York
MICROSOFT Corp raised US$19.75 billion in the third largest US corporate bond sale of the year to help finance its planned purchase of LinkedIn Corp.
Investors put in more than US$50 billion of orders for the deal in the software maker's biggest ever sale. The strong demand helped Microsoft to borrow at lower rates than it paid for the US$13 billion of bonds that it raised in October. It also saved about US$40 million in annual interest payments compared with what it was offering to pay initially, according to people familiar with the matter.
