Apple readying first European bond offering
APPLE’S share price rose 1.3 per cent yesterday on reports that it is planning to sell more bonds.
A tranche are thought to be in euros marking the iPhone-maker’s first European bond offering.
Deutsche Bank and Goldman Sachs were said to be calling up investors yesterday, stoking demand for such an offering, according to The Wall Street Journal.
In April Apple sold $12bn (£7.5bn) in bonds, the tech giant’s second-ever debt sale, but demand at the time of the offering soared in excess of $40bn.
In 2013 it sold $17bn-worth of debt – the largest corporate offering in history.
Although Apple has a colossal cash pile of around $155.24bn, most of it is based outside of the US and would incur a substantial tax payments were it brought back.
Apple is seen as a relatively safe bet – rated Aa1 by Moody’s and AA+ by Standard & Poor’s – though yields tend to be on the smaller side as a result.
Apple did not respond to requests for comment.
Shares in the world’s most valuable company by market valuation, closed at $109.40.