Apple Saves $724 Million With Well-Timed Sale: Corporate Finance
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Apple Inc. could have hardly picked a better time to borrow an unprecedented $17 billion in its first bond sale since 1996.
The world’s most valuable technology company is pocketing an initial $40 million in annual interest savings compared with current yields on the six bonds it sold, according to data compiled by Bloomberg. The yield on 10-year Treasury bonds, a benchmark for the entire fixed-income market, rose to 2.13 percent by the end of last week from 1.67 percent on April 30, the day of the offering, Bloomberg Bond Trader data show.