Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Page < 32 > of 34 - ||| = MarketWatch Latest Watchlist Markets Investing Barron's Eco fy in 2 Aa dent Donald Trump's threats

image text in transcribed

Page < 32 > of 34 - ||| = MarketWatch Latest Watchlist Markets Investing Barron's Eco fy in 2 Aa dent Donald Trump's threats to ban them from doing Dusiness in China. Shown is an Apple store in Xiamen, in southeastern Fujian Province. Tech giant Apple Inc. AAPL, +1.72% borrowed $7 billion on Wednesday by issuing corporate bonds, its first such deal in nearly two years. The iPhone maker sounded out investor interest in bonds with maturities that range from 3 to 30 years at today's all-time-low borrowing rates. Investors initially were told that the company would look to raise only between $4 billion and $5 billion, but order books quickly filled up. Investors piled some $25 billion of orders into the new Apple bond deal. That doesn't mean the company needed to issue that value in bonds. Rather, high demand and lower supply put intense downward pressure on the spread, or compensation, that investors received when the bonds priced later in the session. The 10-year portion landed at 78 basis points above Treasurys to yield 2.244%, a drop from 100 basis points earlier in the session, according to a person familiar with the offering. The 30-year slice cleared at 103 basis points over the risk-free benchmark to yield 2.987%, from 125 basis points initially. 32 ZOOM + ..........

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding financial statements

Authors: Lyn M. Fraser, Aileen Ormiston

9th Edition

136086241, 978-0136086246

More Books

Students also viewed these Finance questions

Question

=+a) Find a 95% confidence interval for the mean price of dinner.

Answered: 1 week ago