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).
SEE ALSO:
Apple preps first Kangaroo bond; likely to set Australian corporate bond record – August 17, 2015
Apple’s samurai bond pushes debt to $45.5 billion – June 3, 2015
Apple set to issue $1.6 billion of yen-denominated bonds – May 27, 2015
Why Apple is selling bonds in Switzerland – February 10, 2015
Apple plans debut Swiss franc bond sale; looks to exploit Switzerland’s low interest rates – February 9, 2015
Apple preserves overseas cash hoard, raises $6.5 billion from bond sale funding share buybacks – February 4, 2015
Apple plans $5 billion bond sale; fourth since 2013 – February 3, 2015
Orders pour in for Apple’s $12 billion bond offering – April 30, 2014
Apple debt offering only $12 billion – April 29, 2014
Apple about to join the ranks of the biggest U.S. corporate debtors – April 29, 2014
Apple readies blockbuster $17 billion debt sale – April 28, 2014
Apple plans another massive debt sale to fuel new share repurchases, dividends – April 25, 2014
Does this make Tim Kaptain Kangaroo?