Apple offers bonds in euros to avoid US tax

Apple is debuting €2.8bn of bonds as the iPhone maker seeks to fund another round of shareholder rewards without using overseas cash that would be subject to US repatriation taxes.

The technology company is offering €1.4bn of eight-year notes and €1.4bn of 12-year securities, a source said.

Goldman Sachs Group and Deutsche Bank are managing the sale and the money will be used for share buybacks and dividends as well as other business purposes, the person said.