Microsoft sold $4.75 billion in new debt on Wednesday, some of it at the lowest U.S. corporate borrowing rate on record, as the world’s largest software company takes advantage of low interest rates to raise cash.

The bonds — due in three years, five years, 10 years and 30 years — are raising money for capital expenditures, share buybacks and acquisitions, among other things, Microsoft said in a filing with securities regulators.

According to a source familiar with the offering, Microsoft sold $1 billion of the three-year notes at a coupon of 0.875 percent, or 25 basis points over comparable Treasuries, making it the lowest on U.S. records that date back to 1970, according to Thomson Reuters Data.

It sold $1.75 billion of the five-year bond at 40 points above comparable treasuries, $1 billion of the 10-year at 55 points above and $1 billion of the 30-year at 83 points above, according to the source.

Microsoft, which has the highest credit ratings from Standard & Poor’s and Moody’s, has almost $37 billion of cash on its balance sheet, but as most of that cash is overseas it prefers to borrow money at cheap rates rather than pay taxes to repatriate cash.

The offering comes a day after the company’s board granted permission to issue up to $6 billion of new debt.

On Tuesday, Microsoft raised its quarterly dividend by 23 percent to 16 cents per share, disappointing some investors who had looked for more.

Its shares closed down 2.1 percent to $24.61 on the Nasdaq.