From Business Week:
Bonds for Microsoft
Cash is king these days—so much so that even debt haters are willing to take out loans to get more of it. On May 12, Microsoft sold bonds for the first time in its cash-rich history, adding $3.75 billion to its already impressive stash of $25 billion. Rumors of potential acquisition targets soon followed—not just Yahoo! (YHOO) but also business software rival SAP (SAP). So far, CEO Steve Ballmer is denying he’s got any mega-deals in the works.
Funny as it is, I’ve been assigning my students a problem involving bond issuance by Microsoft since 2002 or so…