Apple's Euro Bonds

Apple recently offered €2.8 billion ($3.5 billion) in bonds. The bonds are equally divided between an 8-year maturity issue and a 12-year maturity issue. The notes will pay 30 basis points and 45 basis points more than the benchmark interest rate, respectively. The yields of 1.082 percent and 1.671 percent are some of the lowest in history for these maturities. The euro bond issue will allow Apple to tap into its enormous overseas cash horde and the proceeds will likely be used for dividends and share repurchases.