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Re:Intel Raises $6 Billion in Bond Sale to Buy Back Stock by gregw134 on Wednesday December 05, 2012 @12:18AM (#4875013)
For Intel, debt is currently a less expensive way of capitalizing the company than equity. At 1-4% interest, Intel can borrow money through debt at a very cheap rate, but it is expensive for them to raise money through equity sales since their stock price is relatively low. Swapping debt for equity allows them to borrow money from the cheaper source without having to deplete their cash reserves.

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