Google enters bond market, flogs $3bn-worth
Mmm, lovely shiny Mountain View paper
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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. ®
COMMENTS
They might need that money, very soon...
Very soon now, they might need that money to pay for even more lawyers than they now have, if things keep on going the way they are... and I, for one, certainly hope that they; do.
Oh dear, what a shame.
Now if I was a Rothschild, or a Rockefeller, or any other Power Elite banker type, would I view that as an attack on my empire and the corrupted banking sector.
Whatever next? Nouveau Riche Bilderbergers and Trilateral Cloud Commissioners?
I say, what a spiffing good idea.
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