GOOG Bonds Now in Beta

“…if the economy improves and interest rates rise, Google will have executed a very profitable trifecta: it could repatriate its cash at a lower tax rate and buy back its bonds at a discount. And even if none of this works out, Google’s cost of borrowing $3 billion will only be about 2.3%, which in an historical context is not very much.” – Scott Grannis

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