Supply: www.zerohedge.com – Tuesday, April 30, 2013
Wolf Richter&#one hundred sixty;  www.testosteronepit.com    www.amazon.com/writer/wolfrichter On paper, Apple has no reason to borrow. Closing time it issued bonds used to be in 1996, when it flirted with chapter and absolutely needed to get its arms on some moolah. After Steve Jobs back in 1997, Apple wisely stayed faraway from Wall Boulevard and did its personal thing. However that era is over. And a brand new era is dawning upon the icon: Wall-Boulevard engineering. Apple sat on $144.7 billion in cash and marketable securities at the end of the quarter, yet it announced last Tuesday that it might difficulty bonds to help pay for $one hundred billion in dividends and stock buy-backs to be unfold over three years – indubitably not to please some hedge fund managers who, after having gotten stuck within the inventory on the way in which down, had been relentlessly hammering on the company, looking to get it to unleash a torrent of cash. Now Goldman Sachs has it appears been anointed through Apple to steer a $17-billion bond providing, in six elements with maturities starting from three to 30 years, according to Bloomberg’s “ person familiar with the providing ." Wall Street will for sure come out on top, now that it has gotten its foot within the door. Bond traders will earn a measly yield in an effort to perhaps be less than inflation over time, and Apple stockholders will watch their equity get changed by means of debt. These “folks acquainted with the choice” indicated to Bloomberg that CEO Tim Cook employed Goldman Sachs ultimate 12 months

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