Apple has gained $17bn through a bond sale, the biggest ever by a non-banking firm, to help fund its plan for extra payouts to shareholders.
The company said it would buy back $60bn in shares, and increase its dividend to shareholders by 15%.
Apple’s bond sale, its first in almost two decades, comes despite the company having cash reserves of $145bn.
However, most of that money is placed in accounts outside the US and would be liable for US taxes if repatriated.
At the same time, the interest rates in the US are recently close to record lows, helping drive down expenses of increasing funds for companies. That makes it cheaper for Apple to increase the money through a bond process, although it would have interest payments.
Know more about Apple’s net profit here.