Official Windows Magazine
An iPad in a user's hands. The unmistakable brand identity of Apple -- the world's richest company -- has propelled its bond sale, the largest ever by a non-financial institution.
The largest non-bank bond deal in history is Apple's, after the Cupertino-based computer giant offered $17 billion in debt service up for sale, according to reports.
Apple, whose quarterly earnings dropped for the first time in a decade, has no debt and is wallowing in $145 billion in cash -- and has been pressured by its investors to put that cash to use, according to Reuters.
And by offering up $17 billion in bonds for sale to investors in the debt market -- the biggest sale ever by a company that is not a financial institution -- up to $100 billion could be coming investors' ways, the news service reported.
Sources say that Apple will do only this bond deal this year, meaning no separate bond sales in other cash markets will be made. That increased demand. The company received $50 billion in orders by midday Tuesday.
The previous biggest debt offering was $14.7 billion.
Apple's stock lost 45 percent of its value from September through March to $325 a share, but is back up to $444 a share as of Tuesday, Reuters reported.
Apple is still the world's largest company by market value, at $413 billion.