Apple is continuing to take advantage of low interest rates and bond sales to fund its giant stock buyback program. The Financial Times reports that Apple is preparing its third bond sale of the year to the tune of $7 billion:
Apple has already announced a $12 billion bond program in February as well as a $1 billion bond sale in Taiwan last month. Apple has previously done bonds in the US, Japan and Australia to avoid repatriating overseas funds at higher-than-desired tax rates. Before this year, Apple raised $17B in 2013, $12B in 2014 and $8B last year through US bond sales.
The five-part sale, across fixed and floating rate notes, was roughly three times over subscribed at $21bn, according to two people familiar with the deal.
