By Daniel Hunter

Apple has announced plans to raise $5bn (£3.3bn) by selling bonds.

The majority of the funds will be used for its share buyback scheme, which will help it to pay $130bn to shareholders by the end of 2015.

The move comes as a surprise to many, considering Apple's cash reserves of nearly $180bn. But it does hold $35bn worth of debt.

In April 2014 when it last ventured into the US bonds market, Apple raised $12bn. The tech giant raised $17bn in 2013.

Last week, the tech giant reported profits of $18bn, the highest ever quarterly profits for a public company.

Join us on
Follow @freshbusiness