Monday, August 01, 2022 5:00:10 PM
Monday, August 1, 2022 1:38 pm
Apple, following up record quarterly results tied to robust iPhone sales, rolled out a four-part bond deal on Monday to raise new debt in a deal that could reach $6.5 billion.
Joy Wiltermuth for MarketWatch:
The new deal from Apple could raise up to an estimated $4 billion to $6.5 billion for the technology giant through the issuance of four series of bonds with ratings of AAA from Moody’s Investors Service and AA+ from S&P Global, according to Informa global markets.
“Even though August is typically a slower issuance month,” said Tom Murphy, head of investment grade credit at Columbia Threadneedle Investments, “we estimate this year could be busier.” Murphy pointed to improved conditions for borrowers in the past month, but also ongoing macro uncertainties as potential catalysts for more robust issuance from highly rated U.S. companies in August…
The Apple debt deal, split across 7-year, 10-year, 30-year and 40-year classes of bonds, comes after a historically bad start to 2022 that has left many corporate bonds trading with steep discounts. Proceeds from the sale of bonds will be used by Apple for general corporate purposes, including stock and bond repurchases and dividend payments.
MacDailyNews Note: Apple ended its fiscal third quarter with $179 billion in cash and marketable securities. The company repaid $3 billion in maturing debt while increasing commercial paper by $4 billion, leaving Apple with total debt of $120 billion. As a result, Apple’s net cash was nearly $60 billion at the end of the quarter ended June 30, 2022.
Apple has a goal of becoming net cash neutral “over time,” meaning that the company’s debt balances will roughly offset its cash position when achieved.
https://macdailynews.com/2022/08/01/apples-latest-debt-deal-could-reach-6-5-billion/
Recent AAPL News
- Jobs Data, Apple Earnings Contribute To Extended Rally On Wall Street • IH Market News • 05/03/2024 08:25:49 PM
- Jobs Data, Apple Earnings May Lead To Extended Rally On Wall Street • IH Market News • 05/03/2024 01:09:33 PM
- Apple reports second quarter results • Business Wire • 05/02/2024 08:30:00 PM
- U.S. Stocks Rally Amid Easing Worries About Possible Rate Hike • IH Market News • 05/02/2024 08:20:39 PM
- Alphabet CEO’s Billion-Dollar Wealth, Microsoft’s $1.7B Indonesia Investment, and More News • IH Market News • 04/30/2024 11:58:40 AM
- Philips Stocks Soar 47% Following US Deal, Tesla Bolsters Presence in China, and More News • IH Market News • 04/29/2024 11:11:24 AM
- BHP Bids $38.8 Billion for Anglo American; Biden Unveils Historic Micron Technology Deal, and More News • IH Market News • 04/25/2024 11:48:40 AM
- Coca-Cola and Microsoft Sign Billion-Dollar Agreement, Apple Event Set for May 7, and More News • IH Market News • 04/24/2024 11:28:02 AM
- AKT Token Skyrockets on Upbit Listing, IBIT Holds Strong in Top 10 ETFs, and More Crypto News • IH Market News • 04/23/2024 04:34:08 PM
- Apple Loses Market Share in China, GM Surges in Pre-Market Following Upward Revisions for 2024 Projections, and More News • IH Market News • 04/23/2024 11:25:34 AM
- Li Auto Stock Drops 7.3% Amid Tesla Price Cuts, Salesforce Retreats from Informatica Deal, and Other Market Updates • IH Market News • 04/22/2024 12:09:21 PM
- Paramount’s Shares Surge Following Sony and Apollo’s Joint Bid; ISS Backs Berkshire Hathaway Director Re-election, and More • IH Market News • 04/19/2024 11:31:22 AM
- Apple to Invest $250 Million in Singapore Expansion, Oracle Commits $8 Billion to Japan Infrastructure, and More News • IH Market News • 04/18/2024 11:11:52 AM
- United Shares Surge 5.3% in Q1 2024 Earnings Beat; Take-Two Cuts 5% of Workforce, and More News • IH Market News • 04/17/2024 10:57:39 AM
- Ericsson Soars with 66% Net Profit Growth; Live Nation Under Antitrust Scrutiny in US, and More News • IH Market News • 04/16/2024 11:18:19 AM
- Samsung Surpasses Apple in Q1 Smartphone Market; Salesforce in Talks to Acquire Informatica, and More News • IH Market News • 04/15/2024 11:06:48 AM
- Paramount Global Board Shrinks, Morgan Stanley Faces Regulatory Probe, and More News • IH Market News • 04/12/2024 11:05:29 AM
- Costco Increases Dividend by 14%, Meta Introduces ‘Artemis’ AI Chip, and More News • IH Market News • 04/11/2024 11:24:54 AM
- Delta Generates US$37 Million Profit in Q1, Google and Intel Unveil Cutting-Edge AI Chips, and More News • IH Market News • 04/10/2024 11:13:48 AM
- Tesla Resolves Autopilot Lawsuit, JPMorgan Unveils Potential CEO Successors, and More • IH Market News • 04/09/2024 10:39:30 AM
- Boeing Down in Pre-Market Due to CEO Developments and Denver Incident; MicroStrategy Surges 11% with BTC Spike, and More • IH Market News • 04/08/2024 11:17:49 AM
- Apple Terminates 614 Employees, Disney Unveils June Crackdown on Password Sharing, and More Updates • IH Market News • 04/05/2024 11:38:57 AM
- Exxon Mobil Forecasts Earnings Decline, Twilio Seeks Board Tenure Changes, and More News • IH Market News • 04/04/2024 11:30:20 AM
- Cal-Maine Surges on Strong Quarterly Performance, Taiwan Earthquake Disrupts Tech Supply Chain, and More • IH Market News • 04/03/2024 11:12:20 AM
- GameStop Shares Tumble 20% in Pre-Market Trading Amid Revenue Decline, Direct Digital Plummets 42%, and More News • IH Market News • 03/27/2024 10:54:47 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM