Apple Inc. is seeking to sell seven-year bonds in its first Canadian-dollar debt offering, according to a regulatory filing Tuesday.
It will be the technology company’s sixth trip to the bond market this year after it issued $18-billion in the U.S. in three sales, sold $1-billion in Taiwan and offered euro-denominated notes. Apple said in the filing that it will use proceeds from the sale to fund stock buybacks and dividends and capital expenditures.
Cupertino, California-based Apple said in its earnings report Aug. 1 that revenue will be $49 billion to $52-billion in the three months through September, compared with analysts’ average forecast of $49.1-billion. The outlook — along with increasing sales of other products and services — calmed investor concern that demand for iPhones was stagnating ahead of the company’s launch of its new models, sending shares soaring to record highs.
HSBC Holdings Plc, Royal Bank of Canada, Bank of Montreal and Goldman Sachs Group Inc. are managing the sale, according to the filing.
- Apple Inc
$162.10+2.25(+1.40%)
- Goldman Sachs Group Inc
$227.95+0.59(+0.26%)
- Royal Bank of Canada
$93.39-0.15(-0.16%)
- Bank of Montreal
$92.88-0.15(-0.16%)
- Updated August 15 1:12 PM EDT. Delayed by at least 15 minutes.
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