Google enters Bond Market

Google plans to raise cash by selling bonds for the first time in the company's history, the Internet search giant said Monday in a filing with the Securities and Exchange Commission.
Google (GOOG, Fortune 500) declined to comment about the size of the offering but news reports peg it at roughly $3 billion in short-to-medium term notes. The bonds are expected to be priced by market close Monday

Google currently sits on $36 billion in cash and short-term securities. But the bulk of that cash is tied up in overseas accounts, making it expensive to tap in the United States since Google would have to transfer and pay tax on the funds.