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Apple lifted its borrowing plans to $10bn after strong investor demand allowed the iPhone maker to up the size of a planned bond sale on Thursday, according to two investors involved with the sale.

Order books for the transaction, which is spread across nine tenors, surpassed $36bn as underwriters tightened pricing, they added.

The new 2027 maturing debt was set to price with a yield 88 basis points above benchmark Treasuries, or roughly 3.35 per cent. The company’s 2026 maturing notes traded hands with a yield between 3.25 and 3.30 per cent on Thursday.

Copyright The Financial Times Limited 2017. All rights reserved.

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