Ahh, okay. So, it's basically a tax avoidance idea. If my stock buyback costs 20% in taxes on overseas profits, or 10% interest in bonds, then I'll take the bon

Ahh, okay. So, it's basically a tax avoidance idea. If my stock buyback costs 20% in taxes on overseas profits, or 10% interest in bonds, then I'll take the bonds. But wait. Taxes are a one-time thing, right? You pay the 20% (or whatever it is) and you're done. You're going to have to pay those bonds back sometime, right? Wouldn't you need to pay them off and have to pay that 20% tax rate? Oh I bet not. I bet there's some tax avoidance trickery that means you pay less in taxes if it's paying off bonds, right?