Apple to Sell Debt to Help Fund $300 Billion Capital Return
- Unsecured bond sale will fund stock buybacks and dividends
- The iPhone maker is about three-fourths through its program
Shoppers at the Upper West Side Apple store in New York.
Photographer: Michael Nagle/Bloomberg
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Apple Inc., looking to fund stock buybacks and dividends, sold $7 billion of bonds even as proposed new tax laws may leave it awash in cash it previously couldn’t use.
The iPhone maker on Monday sold notes in six parts. Apple has been the second-most active U.S. non-financial issuer of debt this year behind AT&T Inc., data compiled by Bloomberg show. Kristin Huguet, a spokeswoman for Apple, didn’t return messages seeking comment.