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Microsoft says looking at raising debt
NEW YORK |
NEW YORK (Reuters) - Microsoft Corp (MSFT.O) on Thursday filed plans with securities regulators to tap the debt markets, raising money to pay for working capital, share buybacks, or other types of general corporate expenses.
In a filing with the Securities and Exchange Commission, Microsoft did not disclose the amount of debt it planned to issue.
But the software giant said in September that its board had authorized it to tap the debt market from time to time for up $6 billion in funds. As part of that approval, the company has established the $2 billion commercial paper program.
The board has previously approved a share buyback program of up to $40 billion.
Standard & Poor's and Moody's Investors Service have both assigned their top credit ratings to Microsoft.
(Reporting by Paul Thomasch, editing by Maureen Bavdek, editing by Dave Zimmerman)
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