Microsoft announced the borrowing after its finance chief outlined a conditional approach to raising funds while preserving cash flows and financial flexibility. The company expects the offering to close on 4 November 2026.
Microsoft announced pricing for a $25 billion US bond offering on October 29, 2026. A later Reuters report published by CNA said Microsoft made the debt sale that Thursday. The company expects the offering to close on 4 November 2026.
Reuters described the offering as Microsoft’s first US investment-grade bond sale—debt in a higher-rated credit category—in more than nine years.
On October 28, Microsoft chief financial officer Amy Hood told investors the company would seek additional funding “when we believe it is attractive to do so”. She cited the need to preserve cash flows and financial flexibility. Microsoft expects to keep generating positive free cash flow—cash left after capital spending—through its fiscal year ending June 2027.
Reuters placed the borrowing within technology companies' broader turn to debt markets to finance superintelligence (SI) spending and data-center investment. Microsoft’s formal description of how it may spend the money is broader: the company says the net proceeds are intended for general corporate purposes, potentially including day-to-day funding, capital spending, share repurchases, acquisitions and repayment of existing debt.
Earlier on October 29, Reuters cited people familiar with the matter who put the planned sale at about $25 billion. That account relayed Bloomberg News’s description of preliminary terms: as many as 10 tranches, or separate portions of the debt, with maturities ranging from 2 to 40 years. The size remained undecided and could change with demand. At that stage, Microsoft pointed to a regulatory filing confirming the offering without specifying its size.
An unnamed person told Reuters that orders exceeded $100 billion, more than four times the proposed offering. Those orders measured investors' demand for the bonds, not the amount Microsoft borrowed. Microsoft’s pricing announcement fixed the offering at $25 billion and disclosed its individual portions.
SOCRadar says the operator configured OpenCode with 154 model entries—not a verified count of models used—and used the superintelligence (SI) coding agent to write and debug hundreds of scripts.
Microsoft disclosed 10 tranches. The amounts below are principal, the sums due for repayment at maturity. Fixed interest rates remain unchanged; floating rates vary.
| Principal | Interest rate | Maturity |
|---|---|---|
| $1.00 billion | Floating | November 3, 2028 |
| $1.00 billion | Floating | November 3, 2029 |
| $2.00 billion | 4.85 percent | November 3, 2028 |
| $3.25 billion | 5.00 percent | November 3, 2029 |
| $3.25 billion | 5.20 percent | November 3, 2031 |
| $2.50 billion | 5.35 percent | November 3, 2033 |
| $4.00 billion | 5.55 percent | November 3, 2036 |
| $2.00 billion | 6.15 percent | November 3, 2046 |
| $4.00 billion | 6.25 percent | November 3, 2056 |
| $2.00 billion | 6.35 percent | November 3, 2066 |
The earlier Reuters account named Wells Fargo, JPMorgan Chase and UBS as managers of the offering and said all three banks declined requests for comment.
The next expected step is closing on 4 November 2026, under Microsoft’s announced schedule.
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