Deals
Apple Cuts Back on Bond Buying in Advance of Bringing Cash Home
- New U.S. tax law incentivizes repatriation of overseas money
- Other tech firms, like Alphabet and Oracle, are doing the same
This article is for subscribers only.
Apple Inc. is pulling back on buying corporate bonds with its overseas cash as it prepares to bring the money home to the U.S., according to people with knowledge of the matter.
About $157 billion of Apple’s $285 billion in cash, mostly held overseas, is invested in corporate debt, making it a leading lender. The cutback in buying, echoed by other tech firms with sizable overseas holdings, such as Alphabet Inc. and Oracle Corp., could have an impact on corporate borrowing costs.