Apple Inc. has opened books on a six-part bond offering. The currency will be in U.S. dollars. The Cupertino Colossus plans to offer three-year and five-year fixed and floating-rate notes, reports say. Apple will also offer 10-year and 30-year fixed-rated notes through Goldman Sachs and Deutsche Bank.
Apple bonds are expected to be in high demand among investors.
Pricing remains unknown, but reports say terms may be revealed later today.
“The company intends to issue debt that includes floating- rate notes maturing in 2016 and 2018 and fixed-rate securities due in 2016, 2018, 2023 and 2043, Apple said today in a regulatory filing,” Charles Mead reports for Bloomberg News. “Proceeds may help Cupertino, California-based Apple avoid so-called repatriation taxes on its $102.3 billion of funds held overseas as it returns an additional $55 billion to shareholders through 2015 to compensate for a stock that’s been hammered by signs of slowing growth.”
Mead reports, “Apple last issued new debt in 1996, Bloomberg data show.”
Read more in the full article here.
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