Microsoft plans to issue at least $25 billion in investment-grade bonds, its first such offering since 2017. The bonds will be issued in up to 10 tranches, with maturities ranging from two to 40 years. The bonds maturing the latest, in 2066, offer a yield about 135 basis points higher than U.S. Treasury bond yields. Wells Fargo, JPMorgan Chase and UBS are underwriting the issue. Proceeds from the offering will be allocated to general corporate purposes, including capital expenditures.
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