Apple Allegedly Preparing Investor Call Today to Discuss New Bond Offering
Apple is reportedly preparing an investor call today as the company is eyeing a bond sale, people familiar with the matter told the Wall Street Journal. Apple could follow the model of other US companies, which took advantage of the region’s record low borrowing costs start issuing bonds in Euros as well.
Deutsche Bank and Goldman Sachs Inc. are arranging a call for the firm with investors Monday afternoon in London, and a deal, possibly at least partly in euros, could come as soon as Tuesday, according to a person familiar with the matter. The iPhone maker has never issued debt in currencies other than the dollar before.
While issuing bonds in Euros is a first for Apple, the company has already targeted the US bond market in April this year with a $12 billion deal, following a record $17 billion bond sale reported last year.
Dealogic data (as cited by the WSJ) shows Apple’s seven-part bond sale attracted more than $40 billion of investor orders. Apple is rated Aa1 by Moody’s Investors Service and AA+ by Standard & Poor’s – the second highest possible credit ranking.