is gearing up for a four-part bond sale to fund stock buybacks.
) is planning to use the proceeds from the sale for general corporate purposes, including buying back shares and paying dividends, the company said in a filing with the Securities and Exchange Commission.
The bond maturities range from seven to 40 years. Apple didn’t disclose how much money it is raising or what interest rates it will pay.
Shares of Apple were down 1% in premarket trading on Monday. The credit-rating company Moody’s upgraded Apple’s long-term rating to Aaa in December. This is Moody’s highest rating, awarded only to companies with the lowest level of credit risk. Only
Johnson & Johnson
) have the same rating among U.S. companies in the
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