Apple places $7 billion in return to bond market

FILE PHOTO: A 3D printed Apple logo is seen in front of a displayed stock graph in this illustration taken April 28, 2016. REUTERS/Dado Ruvic/Illustration

- Apple Inc said on Thursday it had sold $7 billion of bonds at yields ranging up to 103 basis points over the equivalent U.S. Treasury on maturities of up to 30 years, its first such debt issues since November 2017. The company had said on Wednesday it was offering the five sets of notes, the first of which matures in 2022, to fund a range of needs including share repurchases, dividend payments, capital expenditures, acquisitions and repayment of debt.

Apple had cash and cash equivalents worth $50.53 billion, as of June 29 as well as tens of billions more in securities holdings. Aggregate net proceeds from the sale will be about $6.96 billion after deducting underwriting discounts and Apple’s offering expense, the company said.

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Apple seeks to raise $7 billion in return to bond market: IFRApple Inc is looking to raise $7 billion through a sale of bonds set to price la... gotta keep that stock propped up....esp with 0% interest loans...buyback should be illegal... They are trying to protect themselve from the damage Trump is causing in his trade war. smart move. How much of that will they donate to the Bahamas? Just wondering......
Source: Reuters - 🏆 2. / 97 Read more »