Apple Wants To Borrow Money That It Won't Pay Back Until 2043
Apr 30, 2013, 17:46 IST
Last week when it reported earnings, Apple said it would borrow money from the public market in order to pay dividends and buy back debt.
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This represents the first borrowing since 1996/
Now the company is fleshing out the details if its borrowing.
In a prospectus just filed with the SEC, the company reveals that it will borrow money for 3, 5, 10, and 30-year durations. That means that some debt won't be paid back until 2043, which is several lifetimes from now in the tech world.
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As you can see, the dollar amounts and interest rates on the bonds are not filled in yet.
The other news from the prospectus is that Goldman Sachs and Deutsche Bank are the underwriters of the offering.