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Wednesday, May 1, 2013

Apple's debt offering is largest in history.

Apple's (AAPL) first debt offering in nearly two decades was also the largest corporate bond deal in the history of the market. The company, under pressure to return cash to shareholders, sold a $17B offering in six parts Tuesday: $1 billion of three-year floating-rate notes, $1.5 billion of three-year fixed-rate notes, $2 billion of five-year floating-rate notes, $4 billion of five-year fixed-rate notes, $5.5 billion of 10-year fixed-rate notes and $3 billion of 30-year fixed-rate notes. Goldman and Deutsche led the highly sought-after deal which brought buyers out of the woodwork. AAPL issued the three-year paper at 0.511%, just 20 basis points above the three-year fixed rate Treasury bond.

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