TOKYO—Apple Inc. priced its first ever yen-denominated bond on
Thursday, as the company moved to take advantage of superlow
borrowing rates in Japan.
The U.S. tech giant will offer ¥ 250 billion ($2 billion) in
0.350%-coupon five-year yen-denominated bonds, according to a term
sheet. The bond is a global yen-bond, meaning that international
investors as well as those in Japan will be able to purchase
it.
The proceeds of the issuance will be used for shareholder
returns and possibly to expand Japanese operations, a person
familiar with the issue said last week.
A spokesman for Apple declined to comment.
The underwriters of the issue are Goldman Sachs International
and Mitsubishi UFJ Securities International.
Apple has issued debt in currencies other than dollars in the
past. The company raised debt in euros last year and sold bonds
denominated in Swiss francs in February.
Takashi Mochizuki contributed to this article.
Write to Eleanor Warnock at eleanor.warnock@wsj.com
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