CORPORATES

摘要

APPLE launched its second-largest ever bond transaction in the US high-grade primary last Monday, doubling its full-year 2020 issuance with a US$14bn six-part bond that will be used for debt refinancing and shareholder returns. The deal is its largest single trip to the market since reintroducing itself as a regular issuer in 2013 with a US$17bn six-part bond. The iPhone maker, rated Aa1/AA+, last week posted one of its best quarters, ever relying on a flood of new phone sales over the holidays to take in a record-setting US$111bn in revenue in the three-month period.