Apple leads wave of companies raising money today

May 04, 2020 9:02 AM ETApple Inc. (AAPL), AMGN, SBUX, MMC, OKEAAPL, OKE, AGG, AMGN, SBUX, WHR, MMC, BND, PTY, BTZ, BHK, PCM, RCS, SCHZ, BOND, KHC, DBL, IUSB, FBNDBy: Stephen Alpher, SA News Editor61 Comments
  • "This is a very good time to borrow money, which means it may not be such a great time to lend money," said Warren Buffett over the weekend.
  • Indeed. Among those looking to issue debt today is Apple (NASDAQ:AAPL), which is offering maturities ranging from 3-30 years.
  • Others whose corporate finance departments are earning their keep: Amgen (NASDAQ:AMGN), Starbucks (NASDAQ:SBUX), Marsh & McLennan (NYSE:MMC), Kraft Heinz (NASDAQ:KHC), Whirlpool (NYSE:WHR), and Oneok (NYSE:OKE).
  • It begs the question as to whether rates have at least temporarily put in a bottom. David Schawel notes the team at Apple has historically done a good job at issuing at just the right time.
  • The 10-year Treasury yield at the moment is 0.63%, a handful of basis points above its all-time low.
  • Update at 9:15 AM ET: Fitch has cut Starbucks' credit rating to BBB, with Negative outlook.
  • Some related ETFs: PTY, BND, AGG, RCS, BOND, BTZ, SCHZ, PCM, DBL, BHK, FBND, IUSB

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