Apple plans record Kangaroo bond debut

Apple has released price guidance for its debut Kangaroo bond offering via joint leads CBA, Deutsche Bank, and Goldman Sachs.

Guidance for the fixed and/or floating-rate four-year notes is 70bp area over asset swaps and three-month BBSW. For the fixed-rate seven-year tranche, guidance is 115bp are over asset swaps, according to reports.

An issuance of at least A$1 billion ($735 million) is expected, which would set a new all-time corporate Kangaroo bond record.

Apple Inc. is rated Aa1/AA+ by Moody’s/S&P.

MacDailyNews Take: Records, records, all around. To go with what seems like a record low P/E ratio (but isn’t; see June 2013).

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