Apple in record $17bn bond deal
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Wednesday 01 May 2013
Fresh from announcing it will return $100bn (£64bn) cash to its shareholders, Apple tapped the bond market for the first time yesterday, in what could be the biggest ever US debt sale.
Although the iPhone giant has a $145bn cash pile, most of it is in non-US accounts and repatriation would cost more in tax than fresh debt. By midday, orders for the $17bn of Apple bonds had exceeded $50bn, traders said.
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