toggle

AAPL Stock: 116.47 ( + 0.16 )

Printed from http://www.macnn.com

Apple bond sale to become six-part offering, filing reveals [u]

updated 12:03 pm EDT, Tue April 30, 2013

Goldman Sachs, Deutsche Bank confirmed as partners

(Updated with order book rumors, value of bonds) Apple's planned bond sale involves a six-part offering, according to a filing discovered by Bloomberg. Some floating-rate notes are set to mature in 2016 and 2018, while fixed-rate securities are due in 2016, 2018, 2023, and 2043. The filing confirms Goldman Sachs and Deutsche Bank as the institutions managing Apple's sale.

The amount of debt Apple intends to sell is still unclear, but it's estimated that it could be anywhere between $15 billion and $20 billion. The company needs the money to finance a plan to return $100 billion to shareholders by 2015, even though it has $145 billion in total cash reserves. The problem is that only $45 billion of that is situated in the US, and Apple has refused to repatriate the foreign cash unless it can get a "holiday" on the 35 percent tax it would normally owe. Apple and other corporations have attempted to pressure politicians into enacting a tax holiday.

Update: A Reuters source says Apple has already attracted an order book in excess of $40 billion. The person also suggests that the sale should get pricing later today.

Update 2: The Wall Street Journal says that Apple's bonds will be worth $17 billion. The figure represents the largest-ever dollar amount for an American corporate offering.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

MaxUpgrades 512GB Retina MacBook Pro SSD

Apple's Retina line of MacBook Pro notebooks have been impressive, right from their debut in 2012. Thinner than the previous model, t ...

Lemur BlueDriver

"Oh no, the check engine light is on…again! What one of the hundreds of reasons could it be this time? Probably going to cost a for ...

toggle

Most Commented