Apple in record $17bn bond deal

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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