Apple to sell up to $12bn in bonds

Apple jumpstarted the US bond market on Tuesday with the announcement that it would sell up to ten tranches of corporate bonds.

The tech giant is expected to sell up to $12bn (£8.3bn) worth of bonds with both fixed and floating interest rates.

The bonds are expected to do well because many investors currently have cash amid general market turmoil.

Apple's offer is the largest of several corporate bonds issued on Tuesday after a quiet couple of weeks for the market.

Issuing bonds, which pay an interest rate to investors, is currently relatively cheap with interest rates all but non-existent.

Investors may find Apple's bonds particularly appealing in comparison to the dividend yield from the company. This is the fifth time since 2013 that Apple has made a multi-billion dollar corporate bond offering.

IBM, Toyota, Comcast and BNY Mellon all made bond offerings on Tuesday.