iPhone maker thought to be sourcing extra cash to satisfy shareholders

Apple makes a record $17bn in corporate bond sale

Apple has made a record $17 billion in corporate bond sales in its pursuit to return a $100 billion for its shareholders.

As reported by Bloomburg, the iPhone maker issued $3 billion of floating-rate notes and $14 billion of fixed-rate securities in six parts with maturities from three to 30 years.

These fund are thought to help the tech giant avoid repatriation taxes on its $102.3 billion of funds held overseas, as it seeks to return an added $55 billion to its shareholders by 2015 to compensate for its gradual decline in growth.

The iPhone maker has made huge gains with its iPhone and iPad, but has faced fierce competition from Google’s Android operating system and the manufacturers such as Samsung.

With concern about the phone maker’s growth prospects fresh, the US bond market was not sufficiently impressed to give the company its highest credit grade – despite Apple’s total $145 billion funds amounting to more than the combined funds of every AAA-rated company in the US.

By comparison, Apple’s low time rival, Microsoft, is currently rated Aaa and AAA by credit grade agencies Moody’s and S&P respectively.

About MCV Staff

Check Also

The winners of the TIGA UK Games Education Awards 2023 have been announced

The video games industry trade association TIGA has announced the winners of its 2023 education awards