Google enters bond market, flogs $3bn-worth

Mmm, lovely shiny Mountain View paper

Google has made its first venture into the bond market - raising $3bn from big investors.

With corporate borrowing costs about as low as they can be it makes sense for Google to grab some cheap money, even though it has some $50bn in the bank or in short-term investments.

It also means the company can build a reputation among bond investors in order to raise more money in the future.

And it might wish to go shopping in the meantime - Google was supposedly one of the possible bidders for Skype.

It has already set aside $500m to settle a criminal investigation by the Department of Justice into allegations it made millions from advertising illegal pharmacies.

The search giant is offering three-year, five-year and ten-year corporate bonds. ®

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