Apple Debuts Euro Bonds to Bolster Stock Gain
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Apple Inc. issued 2.8 billion euros ($3.5 billion) of bonds as the iPhone maker seeks to fund another round of shareholder rewards without using overseas cash that would be subject to U.S. repatriation taxes.
The world’s most valuable technology company sold 1.4 billion euros of eight-year notes and an equal amount of 12-year securities, according to data compiled by Bloomberg. Goldman Sachs Group Inc. and Deutsche Bank AG managed the sale and proceeds will be used for share buybacks and dividends as well as other business purposes, according to a company regulatory filing today.