Simpson Thacher Represents Microsoft in First-Ever Debt Financings
10.01.08
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The Firm recently represented Microsoft in connection with the first debt financings in the company’s history.
Microsoft established a commercial paper program, under which it may issue and sell up to $2 billion of commercial paper notes outstanding at any time. In conjunction with, and as back-up for, the commercial paper program, Microsoft also entered into a $2 billion senior unsecured revolving credit facility. The proceeds from these financings will be used for general corporate purposes, including repurchases of capital stock under Microsoft’s new $40 billion share purchase program which extends through September 2013.
Microsoft is the worldwide leader in software, services and solutions for people and businesses.
The Simpson Thacher team for these transactions included, among others, Glenn M. Reiter and Kirsten L. Davis (Capital Markets), and Jim Buresh and Frank Huck (Credit).