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September 11, 2015

Apple returns to eurozone bond market

The company plans to use proceeds for general corporate purposes.

By CBR Staff Writer

Apple returned to the eurozone bond market with two new bonds, extending its debt offering to over $55bn since 2013.

The bonds will have maturities of 8 and 12 years at about 95 basis points. That compares with a 45 basis-point premium when the company sold $1.6bn of securities in November as part of its first non-dollar debt sale, according to the data compiled by Bloomberg.

The company plans to use the proceeds from the bond sale for general corporate purposes, share buybacks and dividends.

Apple is planning to return $200bn to investors by March 2017 and expand its worldwide retail network.

Apart from Apple, several US-based firms have issued bonds in euros. The US nonfinancial firms have to date raised €53.9bn.

Last month, Apple sold a record $1.6bn worth of bonds in Australia, in the largest ever debt issuance by any non-financial company in the country.

Earlier this year, Apple sold $6.5bn in bonds to fund its share buyback programme.

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Yesterday, Apple unveiled the iPhone 6S and 6S Plus, along with the iPad Pro, new Apple TV and Apple Watch upgrades featuring new bands.

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