Apple Inc. is selling its first bonds in euros as the iPhonemaker seeks to fund another round of shareholder rewards withoutusing overseas cash that would be subject to U.S. repatriationtaxes.

The world's most valuable technology company is offering eight-and 12-year notes in the single currency, according to a personfamiliar with the matter, who asked not to be identified becausethey're not authorized to speak about it. Goldman Sachs Group Inc.and Deutsche Bank AG are managing the sale and the money will beused for share buybacks and dividends as well as other businesspurposes, the person said.

By borrowing in euros, Cupertino, California-based Apple cantake advantage of a market with the lowest yields in six yearsrelative to dollar-denominated debt. Apple, which has the biggestcorporate cash hoard at $155 billion, has raised $29 billion frombond sales since 2013 to give back cash to its owners instead ofrepatriating overseas reserves.

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