Microsoft issues senior unsecured notes due 2028 to 2066

On October 29, 2026, Microsoft entered into an underwriting agreement with several underwriters for the issuance and sale of notes in multiple series. J.P. Morgan Securities LLC, UBS Securities LLC and Wells Fargo Securities, LLC acted as representatives. The notes were issued under a Sixteenth Supplemental Indenture dated November 4, 2026, which supplements a base indenture dated May 18, 2009, between Microsoft and The Bank of New York Mellon Trust Company, N.A., as trustee.

The floating rate notes include $1 billion due November 3, 2028, and $1 billion due November 3, 2029. Interest on the floating rate notes is payable quarterly in arrears on February 3, May 3, August 3 and November 3 of each year, starting February 3, 2027.

The fixed rate notes include $2 billion of 4.850% notes due 2028, $3.25 billion of 5.000% notes due 2029, $3.25 billion of 5.200% notes due 2031, $2.5 billion of 5.350% notes due 2033, $4 billion of 5.550% notes due 2036, $2 billion of 6.150% notes due 2046, $4 billion of 6.250% notes due 2056 and $2 billion of 6.350% notes due 2066.

Interest on the fixed rate notes is payable semi-annually in arrears on May 3 and November 3, starting May 3, 2027. The floating rate notes cannot be redeemed at Microsoft's option. Microsoft said it will have the option to redeem the fixed rate notes in certain circumstances described in the prospectus supplement dated October 29, 2026.

The notes are senior unsecured obligations that rank equally with Microsoft's other unsecured and unsubordinated debt outstanding from time to time.