​​​
  1. Apple raises $1.38 bln in bond for June 22 Taiwan listing – Exchange

Apple raises $1.38 bln in bond for June 22 Taiwan listing – Exchange

The 30-year bond will list on June 22, the Taipei Exchange, the island's over-the-counter securities market, said on Wednesday.

By: | Published: June 8, 2016 12:16 PM
Apple iphone, Apple Inc, Apple iphone price, Taiwan market, Bonds, market share, steve jobs company Apple priced the bond with a yield of 4.15 percent, people close to the matter told Reuters on Tuesday. (Reuters)

Apple Inc has raised $1.38 billion in its first bond sale in Taiwan, almost 40 percent more than initially expected on an island that is home to the US technology firm’s vast supply chain.

The 30-year bond will list on June 22, the Taipei Exchange, the island’s over-the-counter securities market, said on Wednesday.

The bond, callable after the second year, is Apple’s first in Taiwan, home to the bulk of a hardware supply chain that involves contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd and iPhone assembler Foxconn, formally known as Hon Hai Precision Industry Co Ltd.

Apple priced the bond with a yield of 4.15 percent, people close to the matter told Reuters on Tuesday.

The yield was below an indicative range of 4.2 percent to 4.3 percent due to strong demand, market participants had said.

Apple joins a string of global names to sell billions of dollars worth of bonds on Taiwan’s busy debt market. The biggest U.S. dollar bond sold to date was that of AT&T Inc at $2.62 billion early last year, bourse data showed.

Taiwan’s debt market is highly active with long-term buyers – primarily life insurers – short of creditworthy names offering high yields.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Tags: Apple Inc

Go to Top