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$REG said it plans to use net proceeds from the offering, plus available cash balances, to redeem its outstanding $300MM 5.875% senior unsecured notes due June 15, 2017, including a required make-whole premium. The company also plans to use a portion of the net proceeds to settle in full forward starting swaps with notional amounts of $220MM.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.