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Apple announces new bond program to fund stock buybacks & dividends, rates expected today


An SEC filing reported by ZeroHedge reveals that Apple has announced plans for a series of new bond issues to raise money for further stock buybacks and dividend payments in what could be a 10-part deal.

General corporate purposes, including repurchases of Apple’s common stock and payment of dividends under the company’s program to return capital to shareholders, funding for working capital, capital expenditures, acquisitions and repayment of debt.

MarketWatch adds that the notes will offer floating-rates maturing in 2018 and 2019, and fixed-rates maturing at a range of dates from 2018 all the way through to 2046. Apple has not yet revealed either the rates to be offered or the total sum it plans to raise, but previous issuances suggest we can expect the amount Apple is borrowing to be substantial …

Earlier U.S. bond sales raised $17B in 2013$12B in 2014 and $8B last year. Apple advised during last month’s earnings report that it had so far executed $153B of its planned $200B stock buyback program.

For those confused about why Apple needs to borrow money when it has $200B in the bank, it’s because most of that money is held overseas, and the company would have to pay hefty taxes in order to repatriate it. It’s far cheaper for it to borrow the money, especially given that its Aa1/AA+ credit rating means that it can afford to offer very low returns.

Filed under: AAPL Company Tagged: AAPL, AAPL bonds, Apple Inc, Bond issue, Bonds, Dividends, Share buyback, stock buyback

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Ben Lovejoy

February 16th



Liveblogging Apple’s ‘cash balance’ conference call

Apple's already told us exactly what to expect on this so-called 'cash balance' conference call, but what they hey -- we'll be liveblogging it just in case Appel slips in that "one more thing." You know, that "thing" about spending a few billion on an Apple-shaped spacecraft for kicks and giggles. The call will get underway at 9AM ET, and we'll have quotes from CEO Tim Cook and CFO Peter Oppenheimer, as well as any juicy questions from the media.

March 19, 2012 9:00 AM EDT

Liveblogging Apple's 'cash balance' conference call originally appeared on Engadget on Mon, 19 Mar 2012 08:53:00 EDT. Please see our terms for use of feeds.

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Comments Off on Liveblogging Apple’s ‘cash balance’ conference call


Darren Murph

March 19th

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