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Apple to issue $5.5B bond sale amid tech industry borrowing boom

Added 08-13-20 05:11:01pm EST - “Apple plans to sell $5.5 billion in bonds amid a broader debt-issuing boom among technology giants, marking the second time in 2020 that it has done so.” - Appleinsider.com

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Posted By TheNewsCommenter: From Appleinsider.com: “Apple to issue $5.5B bond sale amid tech industry borrowing boom | Appleinsider”. Below is an excerpt from the article.

Apple plans to sell $5.5 billion in bonds amid a broader debt-issuing boom among technology giants, marking the second time in 2020 that it has done so.

The bold sale marks the second time in 2020 that Apple has issued debt, with a first sale raising $8 billion taking place in May.

Now, Apple is issuing notes that mature in five, 10, 30 and 40 years, according to a preliminary filing with the Securities and Exchange Commission on Thursday. The company has yet to indicate the bonds' percentages, however.

Apple is tapping the market for $5.5 billion, with bonds sold in four parts, according to sources cited by Bloomberg. The longest 40-year security is set to yield 118 basis points above Treasuries, the report said.

Goldman Sachs, Barclays and J.P. Morgan are noted as underwriters on the bonds. Apple is also recruiting minority-owned underwriters such as Blaylock Van LLC, Loop Capital Markets and Castleoak Securities LP, among others, to sell the offering.

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