Apple joins Shell in selling bonds

New York

THE world's biggest companies are in a race against the clock.

Apple Inc, the most valuable company on the planet, and Royal Dutch Shell are raising cash in the US bond market, taking what may be one of the last chances to lock in borrowing costs while they're near record lows. Shell is selling debt in as many as five parts. The longest-dated portion will be a US$3 billion bond maturing in 30 years that may yield 1.4 percentage points more than comparable Treasuries, according to a person with knowledge of the offering. Proceeds will be used for general corporate purposes.