Apple Inc. hit the corporate bond market on Thursday, with a six-part offering aimed at raising cash for dividends, share buybacks and to pay down existing debt.
The iPhone maker is offering three-year, five-year, seven-year and 10-year tranches, with fixed- and floating-rate notes in the three- and five-year maturities, according to research firm CreditSights. Proceeds are earmarked for the catchall “general corporate purposes,” but that includes shareholder returns, along with working capital, debt repayment and acquisitions.
