Apple is preparing the groundwork for another blockbuster debt sale in the region of $17bn that could rank as the second-largest corporate bond sale of all time.
The world’s most valuable company said last week that it planned to increase its share buyback from $60bn to $90bn, funded by domestic and international bond sales.
Apple plans to use proceeds from the debt sale to fund the buyback rather than tap its $150bn cash pile. About $130bn, 88 per cent, of that cash is held overseas, and returning it to the US would lead to a tax charge of up to 35 per cent.
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