Apple is among the companies that added the most debt last year to to finance either acquisitions or stock repurchases, says S&P Dow Jones Indices, reports Investor’s Business Daily.
Apple, despite having a cash pile estimated to reach $285 billion by the end of 2017, added nearly $27 billion in debt. The tech giant has stepped up stock repurchases.
S&P 500 companies such as Apple, AT&T and Amazon overall issued $775 billion in bonds, the sixth consecutive year of record U.S. corporate bond issuances, says S&P Dow Jones Indices, notes Investor’s Business Daily. The companies aimed to take advantage of low interest rates. Inflation is expected to rise in 2018, say some economists, which could hike borrowing costs and interest expenses.
