Microsoft-Tied Bond Sale Draws $8B in Demand

A Microsoft-linked bond sale dubbed 'Project Odyssey' has garnered significant interest from investors. The bond, being sold through subsidiaries of QTS Realty Trust LLC backed by Blackstone, is aimed at financing a data center venture in Georgia.

Demand for the bond topped $8 billion on Bloomberg Terminal after several days of marketing, prompting an increase in the deal size to $3.9 billion from a previously planned $2.9 billion.

This represents a junk-like yield for investors, who are drawn to the high returns despite taking on more risk.