We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Microsoft Corporation | NASDAQ:MSFT | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
2.71 | 0.69% | 397.65 | 397.60 | 397.65 | 399.93 | 394.6515 | 397.66 | 17,900,190 | 00:59:55 |
REDMOND, Wash., May 29, 2020 /PRNewswire/ -- Microsoft Corp. (NASDAQ: MSFT) ("Microsoft") today announced the expiration of its offers to (i) exchange (the "Pool 1 Offer") the ten series of notes described in the table below (collectively, the "Pool 1 Notes") for a new series of Microsoft's 2.525% Notes due June 1, 2050 (the "New 2050 Notes") and a cash payment, as applicable, and (ii) exchange (the "Pool 2 Offer" and, together with the Pool 1 Offer, the "Exchange Offers") the four series of notes described in the table below (collectively, the "Pool 2 Notes" and, together with the Pool 1 Notes, the "Existing Notes") for a new series of Microsoft's 2.675% Notes due June 1, 2060 (the "New 2060 Notes" and, together with the New 2050 Notes, the "New Notes") and a cash payment, as applicable.
A Registration Statement on Form S-4 (File No. 333-237925), as amended by Amendment No. 1 thereto (the "Registration Statement"), relating to the issuance of the New Notes has been filed with the Securities and Exchange Commission (the "SEC") and has become effective. The New Notes, upon issuance, will be registered under the Securities Act of 1933, as amended, pursuant to the Registration Statement.
The table below identifies the aggregate principal amount of each series of Pool 1 Notes validly tendered (and not validly withdrawn) in the Pool 1 Offer and the principal amount of each series of Pool 1 Notes, based on the order of acceptance priority for such series, that Microsoft expects to accept on the Settlement Date (as defined below):
Pool 1 Table | |||||
Title of Security | CUSIP | Consideration | Acceptance Level | Principal Tendered(1) | Principal Microsoft Expects to Accept |
4.875% Notes due
| 594918AX2 | New 2050 Notes | 1 | $325,428,000 | $325,428,000 |
5.300% Notes due | 594918AM6 | New 2050 Notes | 2 | $229,661,000 | $229,661,000 |
4.450% Notes due | 594918BL7 | New 2050 Notes | 3 | $1,711,663,000 | $1,711,663,000 |
4.250% Notes due | 594918CA0 | New 2050 Notes | 4 | $1,415,370,000 | $1,415,370,000 |
5.200% Notes due
| 594918AD6 | New 2050 Notes | 5 | $191,455,000 | $191,455,000 |
4.500% Notes due | 594918AJ3 | New 2050 Notes | 6 | $428,829,000 | $428,829,000 |
3.750% Notes due | 594918AU8 | New 2050 Notes | 7 | $255,985,000 | $255,985,000 |
3.750% Notes due
| 594918BD5
| New 2050 Notes | 8 | $1,109,437,000 | $1,109,433,000 |
4.100% Notes due | 594918BZ6 | New 2050 Notes | 9 | $1,569,224,000 | $583,533,000 |
4.200% Notes due | 594918BK9 | New 2050 Notes | 10 | $325,218,000 | $0 |
(1) The aggregate principal amounts of each series that have been validly tendered for exchange and not validly withdrawn, as of 11:59 p.m., New York City time, on May 28, 2020 (the "Expiration Time"), based on information provided by the exchange agent to Microsoft. |
The table below identifies the aggregate principal amount of each series of Pool 2 Notes validly tendered (and not validly withdrawn) in the Pool 2 Offer and the principal amount of each series of Pool 2 Notes, based on the order of acceptance priority for such series, that Microsoft expects to accept on the Settlement Date:
Pool 2 Table | |||||
Title of Security | CUSIP | Consideration | Acceptance Level | Principal Tendered(1) | Principal Microsoft Expects to Accept |
4.750% Notes due | 594918BM5 | New 2060 Notes | 1 | $673,265,000 | $673,265,000 |
4.000% Notes due | 594918BE3 | New 2060 Notes | 2 | $1,456,150,000 | $1,456,150,000 |
4.500% Notes due | 594918CB8 | New 2060 Notes | 3 | $1,116,223,000 | $1,116,223,000 |
3.950% Notes due | 594918BU7 | New 2060 Notes | 4 | $1,693,876,000 | $295,490,000 |
(1) The aggregate principal amounts of each series that have been validly tendered for exchange and not validly withdrawn, as of the Expiration Time, based on information provided by the exchange agent to Microsoft. |
In the Exchange Offers, according to the information provided by D.F. King & Co., Inc., the information agent and exchange agent for the Exchange Offers, $7,562,270,000 aggregate principal amount of Pool 1 Notes and $4,939,514,000 aggregate principal amount of Pool 2 Notes were validly tendered and not validly withdrawn at or prior to the Expiration Time, as more fully set forth above.
The Exchange Offers expired at 11:59 p.m., New York City time, on May 28, 2020. Following the Expiration Time, tenders of the Existing Notes may not be validly withdrawn. As of the Expiration Time, all conditions to the Exchange Offers were satisfied. Microsoft currently anticipates that the settlement date of the Exchange Offers will be June 1, 2020 (the "Settlement Date").
Based on the amount of Existing Notes tendered in the Exchange Offers and in accordance with the terms of the Exchange Offers, Microsoft expects to accept, on the Settlement Date, (a) the following Pool 1 Notes validly tendered (and not validly withdrawn): (i) all of the Pool 1 Notes listed in the Pool 1 Table above at Acceptance Priority Levels 1 through 7, (ii) $1,109,433,000 aggregate principal amount of its 3.750% Notes due 2045 (which is less than the amount tendered (and not validly withdrawn) due to minimum denomination requirements of the Exchange Offers) and (iii) $583,533,000 aggregate principal amount of its 4.100% Notes due 2037 with a proration factor for such notes equal to approximately 37.19% of such notes validly tendered (and not validly withdrawn) and (b) the following Pool 2 Notes validly tendered (and not validly withdrawn): (i) all of the Pool 2 Notes listed in the Pool 2 Table at Acceptance Priority Levels 1 through 3 and (ii) $295,490,000 aggregate principal amount of its 3.950% Notes due 2056 with a proration factor for such notes equal to approximately 17.44% of such notes validly tendered (and not validly withdrawn) as set forth above. Microsoft does not expect to accept any of the Pool 1 Notes listed in the Pool 1 Table at Acceptance Priority Level 10.
On the Settlement Date, Microsoft expects to deliver an aggregate principal amount of $6,249,997,000 of New 2050 Notes and an aggregate principal amount of $3,750,000,000 of New 2060 Notes and cash payments, as applicable, pursuant to Microsoft's prospectus dated May 19, 2020 (the "Prospectus"), filed with the SEC on May 19, 2020, relating to the New Notes.
About Microsoft
Microsoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.
Forward-Looking Statements
Statements in this news release are "forward-looking statements" based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors described above as well as:
For more information about risks and uncertainties associated with Microsoft's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Microsoft's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q that are incorporated by reference in the Prospectus forming a part of the Registration Statement, copies of which may be obtained by contacting Microsoft's Investor Relations department at (800) 285-7772 or at Microsoft's Investor Relations website at http://www.microsoft.com/en-us/investor.
View original content to download multimedia:http://www.prnewswire.com/news-releases/microsoft-announces-expiration-of-its-exchange-offers-301067576.html
SOURCE Microsoft Corporation
Copyright 2020 PR Newswire
1 Year Microsoft Chart |
1 Month Microsoft Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions