Apple selling record amount in bonds

Associated Press

NEW YORK

Apple Inc. began selling $17 billion in bonds Tuesday, one of the largest corporate bond issues ever.

The company is selling the bonds in its first debt issue since the 1990s as part of an effort to raise money to give to shareholders through dividend payments and stock buybacks.

Apple has $145 billion in cash, more than enough for the $100 billion cash-return program it announced last week. However, most of its money sits in overseas accounts.