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Apple Inc (NASDAQ:AAPL) upsized its borrowing plan to $10bn on Thursday from an earlier range of $6-8bn after strong investor demand on Thursday.
Order books for the transaction, which is spread across nine tenors, surpassed $36bn as underwriters tightened pricing.
It is understood the 10-year maturity, for example, was priced at 88 basis points over 10-year US Treasuries.
Apple had been said to be close to returning to the market to borrow $6bn-$8bn – as soon as this session - after the iPhone maker reported a rebound to record levels in revenue growth in its latest quarter, the Financial Times reported.
The funds will be used for general corporate purposes, including share buybacks and the issuance of dividends, according to a filing with US securities regulators
Apple, which has $246bn of cash on its balance sheet, has turned to debt markets to finance an expanding shareholder return programme. More than 90% of its cash is held overseas by foreign subsidiaries, as it seeks to avoid taxes tied to repatriating that money to the US.
Apple shares closed down 0.2% at $128.52 on Thursday.