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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