Apple has revealed in a U.S. Securities and Exchange Commission filing that it will be raising its first-ever Canadian debt.
According to The Globe and Mail, Apple will be selling $2.5-billion made from seven years of sold bonds, or contracts regarding borrowed money. For Apple, the bonds in Canada are being sold to fund stock buybacks and dividends.
Starting in February 2018, Apple will pay interest on the notes it issues semi-annually in February and August of each year. The notes will mature in August of 2024, according to the filing.
This follows similar borrowing from the U.K., Switzerland, Australia and Japan, among other countries.
Image credit: Wikimedia Commons
Source: The Globe and Mail Via: Apple Insider
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