微软重返美国债市，拟发行至少 250 亿美元债券
Bloomberg: Microsoft is returning to the US bond market for the first time since its $17B sale in 2017, seeking at least $25B across up to 10 tranches.
彭博社消息称，微软自 2017 年 170 亿美元发债后首次重返美国债券市场，计划通过最多 10 个批次募集至少 250 亿美元。其 40 年期债券定价接近 Alphabet 和 Amazon 的长期债券，尽管微软评级更高为 AAA。超大规模云厂商和数据中心开发商今年已发行超过 3130 亿美元投资级债券，接近 2025 年总量的 3 倍，推动全球债券发行规模达到创纪录的 6.61 万亿美元。
推荐理由
AI 评分 61
微软时隔多年重返美国债市，40年期债券定价却与 Alphabet、Amazon 接近，可看出 AI 基建债务对整体融资成本的影响。
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Bloomberg: Microsoft is returning to the US bond market for the first time since its $17B sale in 2017, seeking at least $25B across up to 10 tranches.
Its 40-year note is priced near Alphabet’s and Amazon’s long bonds despite Microsoft’s stronger AAA rating, which suggests the flood of AI debt is lifting borrowing costs for everyone.
Hyperscalers and data center developers have sold more than $313B of investment-grade bonds this year, almost 3 times 2025’s total, pushing global bond sales to a record $6.61T.