Apple boosts bond deal by 30% to $6.5bn in fourth major debt offering

Apple boosted a planned bond deal by 30 per cent to $6.5 billion in the iPhone maker's fourth major debt offering in the past two years as it preserves its overseas cash hoard, according to a source with knowledge of the matter.

The company will sell the securities in as many as five parts, with the longest portion maturing in 30 years, said the person, who asked not to be identified because of a lack of authorisation to speak publicly.

The deal will be used for stock repurchases, dividend payments and debt repayments, among other things, the person said.

Apple has issued the equivalent of $32.5 billion of bonds since April 2013, when it sold $17 billion in what at the time was the biggest corporate-bond offering ever.

The company’s last debt deal was a sale of €2.8 billion ($3.17 billion) in November that allowed it to fund shareholder rewards without using cash from abroad that would be subject to US repatriation taxes. – (Bloomberg)