The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Apple Inc. is selling bonds again to finance its current round of share buybacks and dividends.
The iPhone maker is offering the debt in as many as five parts, according to a filing. The longest portion of the sale, a 30-year security, may yield 1.125 percentage points above Treasuries, down from initial talk of around 1.25 percentage points, according to a person with knowledge of the matter, who asked not to be identified.
Apple is about three-fourths of the way through a program that’s returning $300 billion of capital to shareholders by March 2019. At the start of July, the company was sitting on more than $261.5 billion of cash—94 percent of which was outside the US, Chief Financial Officer Luca Maestri said. The Cupertino, California-based company declared a quarterly dividend of 63 cents a share last month. The bond sale comes a week before Apple is scheduled to announce successors to the iPhone 7 and iPhone 7 Plus during a launch event at its new campus.
Goldman Sachs Group Inc., Bank of America Corp. and Deutsche Bank AG are managing the latest bond sale.