Apple announces multiple $ 7 billion debt issue

0
298

Apple today announced a multiple issue of debt for a total value of $ 7 billion, despite the large amount of cash it has available.

In a communication to the Securities and Exchange Commission (SEC), the company’s chief financial officer, Luca Maestri, announced a bond issue due in 2020 worth $ 500 million and interest rate floating.

Another issue will mature in 2022, valued at 750 million dollars and also with floating rate; Another 1,000 million with maturity in 2020 and an interest of 1.8%, and another of 1 billion with maturity in 2022 and a rate of 2.3%.

It also announced another issuance of US $ 1.75 billion with a maturity of 2025 and a rate of 2.85% and finally another one for US $ 2 billion, maturing in 2027 and an interest rate of 3.2%.

Apple has about $ 256 billion in cash, of which 90 percent are out of the country to avoid repatriation taxes, according to media estimates.

The company announced on May 2 an expansion of its stock buyback program, from 175 billion to 210 billion, and also reported a 10.5% increase in the quarterly dividend.

This week Apple became the first US company to outperform a $ 800 billion capitalization.

Leave a Reply