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Apple sells USD 17 billion of bonds

2013-05-01 09:19:00| Telecompaper Headlines

(Telecompaper) Apple has sold USD 17 billion of bonds, including USD 14 billion of fixed-rate securities with maturities from 3 to 30 years and USD 3 billion of floating-rate notes, Bloomberg reports. The proceeds may help Apple avoid repatriation taxes on USD 102.3 billion of funds held overseas as the company returns an additional USD 55 billion to shareholders through 2015. It is Apple's first bond offering since 1996 and the largest ever on record. It was handled by Deutsche Bank and Goldman Sachs. A person familiar with the transaction said that the offering attracted USD 50 billion of investor demand.

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