iBond Mania: Apple to Sell $12B in New Debt

Technology giant Apple is now expected to raise US$10bn-US$12bn from a seven-tranche bond deal, higher than initial expectations of US$8bn-US$10bn as order books climbed in excess of US$40bn, market sources said on Tuesday.

Leads Deutsche Bank and Goldman Sachs earlier tightened guidance by 10bp to 20bp from initial price talk levels, reflecting strong demand across all tranches that are expected to launch shortly.

(Reporting by Natalie Harrison and Danielle Robinson; Editing by Marc Carnegie)