Tags: apple | investors | bond | sale

Apple Said to Plan Calls With Investors to Market Sale of Bonds

Monday, 03 November 2014 07:07 AM

Apple Inc. is holding calls with investors today to discuss a bond sale, according to a person familiar with the matter.

The world’s most valuable technology company hired Goldman Sachs Group Inc. and Deutsche Bank AG to organize the calls, said the person, who asked not to be identified because they’re not authorized to speak about it. A London-based spokesman for Apple declined to comment on whether the securities would be denominated in euros.

Apple sold $12 billion of dollar notes this year after raising $17 billion in 2013 in the largest corporate bond sale at the time. A transaction in euros would be the first for Apple, and would allow the Cupertino, California-based company to borrow at the lowest rate relative to dollar-denominated debt in six years, according to Bank of America Merrill Lynch index data.

“All-in funding levels in euros are so low for corporates at the moment it makes sense to issue here,” said Jens Vanbrabant, lead money manager at London-based investment firm ECM Asset Management Ltd., which oversees $8 billion. “It’s much lower than dollars. There is no doubt investors will like the name.”

The average yield investors demand to hold investment-grade corporate bonds in euros fell to 1.22 percent, two basis points from a record low, according to Bank of America Merrill Lynch index data. That’s widened the yield gap with dollar notes to 1.87 percentage points, two percentage points from the biggest discount since October 2008, the data show.


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Apple Inc. is holding calls with investors today to discuss a bond sale, according to a person familiar with the matter.
apple, investors, bond, sale
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2014-07-03
Monday, 03 November 2014 07:07 AM
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