Microsoft disclosed it has entered into an underwriting agreement on October 29, 2026, for the public offering of $25 billion in aggregate principal amount of senior unsecured notes. The offering consists of ten separate series of both fixed-rate and floating-rate notes with maturities ranging from 2028 to 2066.
Key Details
- Total Offering Size: $25 billion aggregate principal amount across ten series of senior unsecured notes.
- Offering Composition: The offering includes $23 billion in fixed-rate notes with maturities from 2028 to 2066 and coupons from 4.850% to 6.350%, and $2 billion in floating-rate notes maturing in 2028 and 2029.
- Ranking & Terms: The notes are senior unsecured obligations and will rank equally with Microsoft's other unsecured and unsubordinated debt. The offering is managed by underwriters represented by J.P. Morgan Securities LLC, UBS Securities LLC, and Wells Fargo Securities, LLC.