Apple Sells $5.25 Billion in Five-Part Dollar Bond Sale

Bloomberg2023-05-09

Bond deal is slightly higher than initial $5 billion targetDebt sale will be ‘very well received by the market’: InvescoApple Inc. tapped the US blue-chip bond market Monday as a flood of borrowers ...

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Kerrisdale
2023-05-09
Kerrisdale
Rush to raise cash..
OO_898
2023-05-09
OO_898
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The longest portion, a 30-year bond, will yield 108 basis points over comparable Treasuries, less than the roughly 135 basis points initially discussed, said the person, who asked not to be identified because the discussions are private.Dealers surveyed by Bloomberg are expecting $30 billion to $35 billion of US high-grade bond sales this week as corporate debt markets show signs of stabilizing. A total of 11 companies are set to issue $22.55 billion of fresh debt on Monday, locking in funding before the release of the consumer price index on Wednesday, followed by the producer price index Thursday. T-Mobile US Inc. and Merck & Co. Inc. also brought $3.5 billion and $6 billion in bonds, respectively.Proceeds from Apple’s sale will be used for general corporate purposes. That could include stock repurchases, dividend payments, working capital, capital expenditures, acquisitions and repayment of debt, the person said. 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