Google Borrowing $3 Billion In First Ever Bond Offer

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Photo: AP

Google is borrowing $3 billion in its first ever debt offering, according to a filing with the SEC.In the filing Google says it will use the money to “repay outstanding commercial paper and for general corporate purposes.”

Money is cheap to borrow now, so they might as well take it. It’s very plausible that the company will use proceeds to buy back stock.

Google has ~$37 billion in cash on hand, pre-debt offering.

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