4/29/14 5:26 PM ET (MarketWatch)
NEW YORK (MarketWatch) -- Apple Inc. (AAPL) will enter the bond market to complete a seven-part note offering as it partakes in an aggressive shareholder-return program, the computer-maker said Tuesday in a filing with the Securities and Exchange Commission. Apple has not indicated a size, but the offering could total at least $17 billion, according to . The company, which sold $17 billion in debt last year, said during its earnings report last week that would issue debt to help fund its shareholder return program. The company increased its buybacks to $90 billion from $60 billion, and raised its cash dividend by 8%. Because Apple holds much of its cash overseas, it issues debt to avoid the taxes associated with bringing its cash stateside. The offering will include fixed-rate notes maturing in 2017, 2019, 2021, 2024, and 2044. Floating-rate notes will be sold in 2017 and 2019 maturities. Shares of Apple were up 0.3% premarket.
-Ben Eisen; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 29, 2014 17:26 ET (21:26 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.
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