Apple Inc., the iPhone maker seeking to help finance a $100 billion capital reward for shareholders with borrowed money, may sell its first bonds in almost two decades as soon as today with a six-part offering.
The company intends to issue debt that includes floating-rate notes maturing in 2016 and 2018 and fixed-rate securities due in 2016, 2018, 2023 and 2043, Apple said today in a regulatory filing. Proceeds may help Cupertino, California-based Apple avoid so-called repatriation taxes on its $102.3 billion of funds held overseas as it returns an additional $55 billion to shareholders through 2015 to compensate for a stock that's been hammered by signs of slowing growth.
“You'll see a meaningful amount of interest,” Ashish Shah, the head of global credit investment at New York-based AllianceBernstein LP, which oversees $256 billion in fixed-income assets, said in a telephone interview. “It's a high-quality name which brings in a lot of different kinds of buyers.”
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