Microsoft Plans To Raise $1B In Note Offering

Law360, New York (June 8, 2010, 1:21 PM EDT) -- Microsoft Corp. revealed Tuesday that it plans to sell $1.15 billion in convertible senior notes due in 2013 to help pay down its short-term debt.

The Redmond, Wash.-based company said initial purchasers in the private offering would be granted a 13-day option to purchase up to $100 million of additional convertible notes to cover over-allotments, if any.

Prior to March 15, 2013, the notes will be convertible into cash and cash shares of Microsoft’s common stock in certain circumstances, and after that date they will be...
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