Selling debt to buy back their stock looks like a pretty safe bet. Most of the debt is starting off below ~2.5% interest -- using that to buyback the stock payi

Selling debt to buy back their stock looks like a pretty safe bet. Most of the debt is starting off below ~2.5% interest -- using that to buyback the stock paying ~3% dividends is immediately saving themselves money, in addition to reducing dilution and propping up the stock price.