Bonds

Apple sets final spreads on Swiss franc bonds

Chris Ratcliffe | Bloomberg | Getty Images

Apple has set the final spreads on its dual-tranche Swiss franc deal. The minimum SFr700m 2024 tranche will price at mid-swaps plus 25bp, and the minimum SFr300m 2030 tranche at mid-swaps plus 35bp.

Guidance on the short 10-year was mid-swaps plus 27bp area with an indicative 0.375 percent coupon, and the 15-year was marketed at plus 37bp area with a 0.75 percent coupon.

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The deal was initially soft-sounded with investors at 25bp to 30bp over mid-swaps for the short 10-year and at 35bp to 40bp over swaps for the 15-year bond.

The issue is slated to price later today, with leads Credit Suisse and Goldman Sachs due to close books at 1430 CET.