Bloomberg is reporting that Apple will sell up to $5 billion in debt to finance share buybacks. The four-part bond sale comes after dropping a two-year floating rate component and a 30-year security will make up the longest part of the sale.
The tech giant has a goal of returning $300 billion to shareholders by March 2019. It’s completed about three-fourths of that program.
Apple, which sold debt for at least the seventh time this year, has joined a host of other issuers. Home Depot sold $1 billion of investment-grade debt today, and IBN was in the market with a five-part deal. Apple sold C$2.5 billion ($2 billion) in its first Canadian maple bond deal last month.