$Apple Inc(AAPL.US)$ on Thursday made a preliminary filing with the SEC for a four-part debt offering that will include notes with 7, 10, 30 and 40 year maturities. The company did not specify the size or timing of the offering.
Apple (ticker: AAPL) has about $113.8 billion in long-term debt outstanding, including current maturities. The total reflects $14 billion raised in an offering in February.
Goldman Sachs, BofA Securities and Barclays are managing the offering, according to the filing.
Apple said in the filing Thursday that it plans to use proceeds from the offering "for general corporate purposes," including share repurchases and payment of dividends, funding for working capital, capital spending, acquisitions and repayment of debt.
Apple this week posted better-than-expected June quarter earnings, driven in particular by strong growth in both iPhone demand and services. Apple has been pushing to reduce its net cash position, with the overall goal of becoming cash neutral. Apple finished the latest quarter with $72 billion in net cash, after returning close to $29 billion to holders in the latest quarter in the form of dividends and stock buybacks.
Apple did not immediately respond to a request for comment on the filing.
Apple shares on Thursday are up 0.46%, to $145.64.
Write to Eric J. Savitz at eric.savitz@barrons.com
(END) Dow Jones Newswires
July 29, 2021 11:45 ET (15:45 GMT)
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Comment(1)
Apple said in the filing Thursday that it plans to use proceeds from the offering "for general corporate purposes," including
share repurchases and
payment of dividends,
Reason For Report