Based on current rates, Apple will pay interest of about $308 million a year on the $17 billion bond offering, said Gerald Granovsky, a senior vice president at Moody's.
"From a pure corporate-finance theory perspective, this was a no-brainer," Granovsky said.
If the funds had come from Apple's offshore cash pile of about $100 billion, the Cupertino, California-based iPhone maker would have had to pay a 35 percent tax to repatriate the money, Granovsky said. That means Apple avoided about $9.2 billion in taxes. And since interest payments are tax-deductible, that's another $100 million a year, Granovsky said.
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