Microsoft-Tied ‘Project Odyssey’ Bond Lures Buyers at Junk Yield

A corporate bond sale tied to Microsoft's data-center financing drew more than $7.8 billion in demand, prompting organizers to consider increasing the offering size to $3.9 billion from its initial target. The bonds carried yields typically associated with lower-rated debt securities. The sale involved financing for data-center infrastructure linked to Microsoft operations.

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