• Apple Reportedly Planning Another Bond Sale

    Apple recently notified the US Securities and Exchange Commission that itís planning another bond sale. The Cupertino California company is accruing debt to fund its ongoing quarterly dividend payments and share repurchase program. The reinvestment program is fueled in part by debt taken on by the company and the latest round of share buybacks isnít any different.

    In the preliminary filing, Apple revealed that its seven-part bond offering will feature floating rate notes due in 2017 and 2020, while the rest of the fixed-rate notes will range from 2017 to 2045. The bond sale is said to be operated by joint book running managers, Goldman Sachs, Bank of America Merrill Lynch and JP Morgan Chase. As of right now, no pricing has been revealed for the bonds just yet.

    The company announced that it plans to add $50 billion to its massive capital return program growing the share buyback component to $140 billion. This announcement came alongside an 11% bump in its quarterly dividend paid to shareholders. Overall, Apple supposedly plans to return roughly $200 billion to shareholders by the end of March 2017. The company has already returned $112 billion since 2012, including $80 billion in stock buybacks.

    The dividend is set to rise to 52 cents per share for shareholders of record as of the close of business on May 11. The previous dividend which was paid back in February was set at 47 cents.

    Source: US Securities and Exchange Commission via AppleInsider
    This article was originally published in forum thread: Apple Reportedly Planning Another Bond Sale started by Akshay Masand View original post
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