Apple Plans To Sell C$2.5 Billion In Bonds In Canada
Apple Inc. plans to sell C$2.5 billion (1.96 billion dollars) in bonds in a Canadian-dollar-denominated issue, which will be a record amount for an issuer in the Maple bond market.
Thomson Reuters IFR reported on Tuesday.
The deal is tied as the biggest corporate issue in Canada.
Apple’s size and brand name allows the company to borrow cheaply, said Altaf Nanji, who serves as Head of Corporate Research at Manulife Asset Management.
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In a regulatory filing on Tuesday, Apple said the proceeds of the transaction will be used for general corporate purposes, including repurchases of common stock and payment of dividends.
An Apple spokesman declined to comment on the size or price of the deal.