Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Microsoft Corp., the world’s largest software maker, is selling bonds in euros for the first time, joining LVMH Moet Hennessy Louis Vuitton SA and Nestle SA in taking advantage of record-low borrowing costs.

Microsoft is raising 550 million euros ($719 million) from 20-year notes, according to a person familiar with the transaction. French luxury goods maker LVMH is selling its first euro bonds in two years, while Nestle, the world’s biggest food company, is marketing its first securities in the currency since October.

Microsoft’s deal will be priced to yield about 60 basis points more than swaps, according to the person who asked not to be identified because the details are private. Photographer: Stuart Isett/Bloomberg

It’s the busiest day in six weeks for issuance in Europe, as non-financial companies sell 3.9 billion euros of bonds, according to data compiled by Bloomberg. The average yield investors demand to hold investment-grade corporate bonds in euros has fallen to a record 1.84 percent, Bank of America Merrill Lynch data show.

T&R Express

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.