Apple Raises C$2.5 Billion in Debut Canadian Maple Bond Sale
- IPhone maker to use proceeds for dividends, buybacks
- Company has sold debt in Europe, Taiwan and U.S. this year
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Apple Inc. sold C$2.5 billion ($1.96 billion) of seven-year bonds in Canada to fund stock buybacks and dividends in the biggest single debt offering by a foreign issuer in Canadian dollars.
The technology firm sold the senior unsecured bonds Tuesday with a 2.513 percent coupon, priced to yield 81.4 basis points over the government benchmark, according to data compiled by Bloomberg. Apple had targeted a minimum size of C$1.5 billion at a spread of about 83 basis points, plus or minus three basis points, according to people familiar with the matter who asked not to be identified.