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Apple sets final terms on dual-tranche bond
May 17, 2017 / 3:18 PM / 7 months ago

Apple sets final terms on dual-tranche bond

LONDON, May 17 (IFR) - Final terms for Apple Inc’s dual-tranche euro-denominated senior unsecured benchmark bond have been set, according to a source.

The US tech company will price a €1.25bn eight-year tranche at 33bp over mid-swaps, the tight end of the 33bp-35bp guidance and tighter than the 45-50bp initial price thoughts.

It will a €1.25bn 12-year at mid-swaps plus 45bp, the tight end of the 45-47bp guidance and inside mid-swaps plus 60-65bp initial price thoughts.

Books had passed €5bn at the last update.

Apple, rated Aa1/AA+ (both stable), mandated Goldman Sachs, Barclays and Deutsche Bank as bookrunners. (Reporting by Helene Durand)

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