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Apple said to offer 750m Swiss francs of bonds in debut
[LONDON] Apple Inc will sell 750 million Swiss francs ($810 million) of bonds in its debut offering in the currency, according to a person familiar with the matter.
The iPhone maker is marketing 500 million francs of bonds maturing Nov 2024 and 250 million francs of notes due Feb 2030, according to the person, who asked not to be identified because they're not authorized to speak publicly.
Apple has issued the equivalent of US$39 billion of bonds since April 2013, when it sold US$17 billion in what at the time was the biggest corporate-bond offering ever. By borrowing in Swiss francs, the Cupertino, California-based company can take advantage of record-low funding costs after Swiss government bond yields turned negative.
The 2024 bonds are being marketed with a coupon of 0.375 per cent and the longer-dated securities will pay 0.750 per cent, the person said.