Apple Sells $5.5 Billion of Bonds in Tech Borrowing Boom
- Company last borrowed in May to fund share buybacks, dividend
- Amazon, Google have also sold bonds with yields at record lows
Photographer: Chris Ratcliffe/Bloomberg
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Borrowing costs are so cheap right now that not even Apple Inc. could resist, becoming the latest to join a boom in issuance from the world’s biggest technology companies.
Apple, which hadn’t borrowed in dollars more than once in a calendar year since 2017, tapped the investment-grade market for $5.5 billion in its second trip since May. It was cheap to issue debt then and is even better now, with cash-rich companies like Amazon.com Inc. and Google parent Alphabet Inc. getting in on the action, outdoing each other to set a new floor for yields.