So far this year, a cumulative of $807.1 billion of investment-grade corporate bonds have been issued, making it the fastest start to the year ever, according to B. of A. Global Research.
Apple, which had a massive $190 billion cash hoard as of its first-quarter earnings last week, indicated that the new debt will be used for a variety of general corporate purposes, including paying dividends, stock repurchases, debt repayment and working capital.