Apple’s Lure Strong to Buyers Nursing Losses: Corporate Finance
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Apple Inc. is proving too big to ignore in the bond market, where investors nursing losses from the computer maker’s $17 billion debt sale last year are still seen lining up to participate in a new offering that may come as soon as this week and be of similar size.
“A lot of these institutional buyers need to be a part of these big deals because they need to mimic the indexes and they need to play in the new name,” Jody Lurie, a Philadelphia-based corporate credit analyst at Janney Montgomery Scott LLC, said in a telephone interview on April 25. “There’s a lot of factors that forced their hands into such a bond offering, and those factors are still there.”