“Feeling lucky, Google Inc. GOOG +0.23% has found a new place to park some of its $40 billion cash hoard: bonds backed by car loans.
The Mountain View, Calif., company has plowed hundreds of millions of dollars in recent months into asset-backed securities, tied largely to automobile loans and consumer credit-card payments. Among Google’s recent purchases: triple-A-rated debt from car makers Honda Motor Co. 7267.TO +1.17% and Hyundai Corp. 011760.SE +3.27%Google had previously restricted itself to U.S. Treasurys, high-quality corporate bonds and other low-risk securities.”
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