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Microsoft on the hook for at least $559 million of affiliate's debt

Time: 10:47 EST/15:47 GMT | News Source: Silicon Valley | Posted By: Robert Stein

Microsoft Corp. is responsible for more than $500 million in debt belonging to an unnamed company in which the software giant owns an equity stake, according to its latest quarterly report. The Redmond, Wash., company has guaranteed the repayment of bank loans belonging to an ``unconsolidated equity investee.'' The most Microsoft would have to pay stood at $559 million at the end of 2002, the filing states.

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#1 By 8062 (206.72.66.205) at 2/5/2003 2:48:25 PM

Slow news day huh?

#2 By 3653 (63.162.177.140) at 2/5/2003 5:15:23 PM

Debt will be traded for equity.

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