Apple raises $17bn via bond sale

<p>Apple has raised the largest bond sale by a non-banking company.</p>

Apple has broken the record for the biggest bond sale by a non-banking company after it raised $17 billion (£10.9 billion).

The move comes shortly after the technology company said it will buy back $60 billion in shares, as well as raised its dividend to shareholders by 15 per cent.

Apple revealed that the $17 billion raised through the bond sale is going to be used to fund special payments to shareholders.

The share price of the firm has been dropping over the course of recent months and they have dipped nearly 40 per cent after hitting an all-time-high in September last year.

"Apple made its intentions clear that this deal is for shareholder-friendly activity, but they have tremendous metrics and brand recognition," said Rajeev Sharma, portfolio manager at First Investors Management.

The share price of Apple currently stands at 442.78, which has improved on a recent drop below 440 for the first time in several years.

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