Apple plans $5bn bond sale to safeguard cash reserves

Apple is planning to sell $5bn of bonds in the iPhone maker’s fourth multi-billion dollar debt offering in the past two years as it preserves its overseas cash hoard, according a person with knowledge of the matter.

The company will sell the securities in as many as five parts, with the longest portion maturing in 30 years, said the person, who asked not to be identified because of a lack of authorisation to speak publicly.

The deal may price as early as today. Proceeds will be used for stock repurchases, dividend payments, and debt repayments, among other things, the anonymous source said.