Australian and Asian investors on Friday rushed Apple’s entry to the Down Under bond market, snapping up A$2.25 billion worth of the bonds in several hours. Some $5 billion worth of the so-called “Kangaroo” bonds are on offer by the US-based computer giant. It is offering a two-tranche bond sale of four- and seven-year notes in both fixed and floating formats.
Apple Set To Break Fundraising Record With Kanga Bonds
The iPhone maker sold A$1.15 billion of seven-year notes and $1.1 billion of four-year securities.
Analysts are forecasting Apple could break the record for the largest international corporate bond issue ever sold in Australian dollars.
The record is currently held by BHP which issued $1 billion worth of five-year bonds in October 2012.
Apple enlisted the Commonwealth Bank, Deutsche Bank and Goldman Sachs to help promote sales of it its debut “Kangaroos”.
Until November the company had only sold US