Orders pour in for Apple's $15 billion bond offering
Published on Apr 30, 2014 3:28 AM
NEW YORK (IFR) - Investors rushed on Tuesday to get a piece of Apple's new US$12bn (S$15 billion) seven-part bond deal, just the company's second foray into the US bond market.
More than US$40bn of orders were heard to have poured into the trade at midday, though sources said final books were closer to US$35bn as spread levels tightened during bookbuilding.
Apple, which had initially been targeting US$8bn-US$10bn, will price the trade later on Tuesday.
The strong demand for double A rated company's offering has allowed the deal to price inside its outstanding bonds, which is a market coup for the technology giant.
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