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Normally I'd agree - but on 3yr paper

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10nisman   Thursday, 09/23/10 12:08:13 PM
Re: wallstarb post# 104887
Post # of 201652 
Quote:
Normally I'd agree - but on 3yr paper it doesnt have the duration for a longer term investment, and unless MSFT is buying junk bonds with it I really dont see the point for them. Perhaps an acquisition on the horizon - or maybe they are buying some CMOs

The vast majority of MSFT's cash is overseas and thus to get around paying taxes to repatriate it they chose to issue debt at insanely attractive levels. MSFT will likely use the cash to pay its dividend and buy-back shares.

10nis

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