Why Apple Is Borrowing $7 Billion While Sitting on a $200 Billion Cash Pile
- Ultra-cheap interest rates luring the most cash-rich companies
- Record numbers of issuers seizing the opportunity to borrow
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Apple Inc., one of the most cash-rich companies in the world, is still looking to get a piece of the ultra-cheap money that’s up for grabs in the bond market.
With investment-grade bond yields hovering near record lows, it’s tempting even for Apple -- with more than $200 billion of cash and investment securities on its books -- to see what investors will lend it. Turns out that number is $7 billion, or just over 3% of its current coffers.