Apple sells $14 billion of bonds to take advantage of low interest ratesApple is getting in on those rock-bottom interest rates.
What you need to know
Apple has sold $14 of bonds.
The company plans to use the funds for "general corporate purposes."
As reported by Bloomberg, Apple has sold $14 billion of bonds. The company is reportedly taking advantage of cheaper borrowing costs in order to return more cash to its shareholders.
The company issued debt in six parts. The longest portion of the offering, a 40-year security, will yield 95 basis points above Treasuries, after initially discussing between 115 and 120 basis points, according to a person with knowledge of the matter, who asked not to be identified as the details are private.
The report notes that Apple had only made moves like this once a year until 2020, but the low interest rates of the past year made the practice more appealing to the company.
Until 2020, Apple hadn't borrowed in the U.S. investment-grade market more than once in a calendar year since 2017. But rock-bottom interes...
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Apple sells $14 billion of bonds to take advantage of low interest rates
