43078
Apple Sells 30-Year Taiwan Bond
Economy, Sci & Tech

Apple Sells 30-Year Taiwan Bond

Apple Inc. sold a 30-year US dollar bond in Taiwan with a yield of 4.15%, sources said on Tuesday, aiming to raise between $1-1.2 billion in the first debt issue by the US technology giant on the island that is home to major players in its supply chain.
The yield compares with a range of 4.2-4.3% ahead of its pricing, people familiar with the deal earlier told Reuters.
At 4.15%, the yield is well below that offered in recent bond issues in the flush Taiwanese market by blue-chip multinationals like Intel Corp and Anheuser Busch InBev SA.
The total amount raised by the bond-callable after the second year-had not yet been finalized, the people said, speaking on condition of anonymity because the matter was confidential.
Subscriptions rates in the sale couldn't immediately be determined.
Apple could not be reached immediately for comment on the issuance in Taiwan, which houses Apple suppliers, including iPhone assembler Foxconn, formally known as Hon Hai Precision Industry Company, contract chipmaker Taiwan Semiconductor Manufacturing Company and lens producer Largan Precision Company.
The US giant joins a crowd of big global names that have sold billions of dollars on the island's busy debt market. Liquidity in the Taiwanese bond market is high, with long-term buyers of debt, primarily life insurance firms, seeking creditworthy names and chasing higher yields.
Cathay Financial Holding Company, the parent of Taiwan's biggest life insurer, has bought "a small part" of the bond as the yield is lower than others issued by Apple outside of Taiwan, a Cathay executive told Reuters by phone. He asked not to be identified as he was not authorized to speak to media.
In December, US chipmaker Intel sold $915 million of 30-year bonds with yields of 4.7%. A month later, global brewer Anheuser Busch InBev issued a $1.47 billion bond of the same maturity at 4.915%, according to data from the Taipei Exchange, the island's over-the-counter market.
The island's 30-year government bond, which is less liquid in the secondary market, was last quoted around 1.6475%.

Short URL : http://goo.gl/RXuMRz
  1. http://goo.gl/3ZMahJ
  • http://goo.gl/TeySe0
  • http://goo.gl/lCK9kB
  • http://goo.gl/YsOoRJ
  • http://goo.gl/28HcIw

You can also read ...

Turkey Determined to Protect Companies From US Sanctions
Turkey will take every initiative to protect its companies...
Westminster Group Hopeful Over Iran Airport Security Deal
UK-based company Westminster Group PLC is still hopeful it can...
Tesla’s Gigafactory in Nevada, the US
Tesla Inc has flown six planes full of robots and equipment...
Fiat Chrysler Recalls 4.8m Vehicles
Fiat Chrysler is warning the owners of approximately 4.8...
Further Hike in Unified USD Rate
The Central Bank of Iran has increased the US dollar's...
Head of Sistan-Baluchestan’s Ports and Maritime Organization Behrouz Aghaei (L) shakes hands with Managing Director of Life Trade Promotion Company Mohammad Arazesh after signing the agreement on May 23.
Life Trade Promotion Company signed an agreement with Sistan-...
Iran’s 65-and-over population is projected to rise to make up 11% of the total population in 2036-37.
Iran’s population will get increasingly older over the next...
Non-Oil Trade With Austria Surpasses 19%
Iran traded $364.34 million worth of non-oil goods with...

Trending

Googleplus