“Apple readied to sell $7bn worth of bonds on Thursday in its third tap of US debt capital markets this year, as the iPhone maker takes advantage of record low borrowing costs.,” Eric Platt reports for The Financial Times.
“The five-part sale, across fixed and floating rate notes, was roughly three times over subscribed at $21bn, according to two people familiar with the deal,” Platt reports. “Maturities ranged from three to 30 years.””
“The Cupertino, California-based company has become a staple of US capital markets as it seeks to fund its dividend and share buyback programme,” Platt reports. “Since 2013 Apple has raised more than $74bn through debt markets, according data provider Dealogic.”
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MacDailyNews Take: More free money!