Apple raised $14bn via a six-part jumbo deal to make it 2021’s largest deal yet, surpassing 7-Eleven’s $10.95bn issuance last week. Below are details of the six tranches:
This will be Apple’s third debt offering in 10 months following issues in
May and
August which totaled $14bn combined. Proceeds will be used for general corporate purposes, including stock buybacks and dividend payments, capex and acquisition/repayment of debt. The iPhone maker ended Q4 with $196bn in cash and $112bn in debt whilst generating more than $110bn in revenue in the quarter. Bloomberg reports that the $14bn raised is more cash than 93% of non-financial S&P 500 companies have on their balance sheet, according to the latest quarterly data.
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