Yesterday I reported on the clever economics behind Apple's US$17 billion bond deal, specifically pointing out that the interest Apple will owe on each share it repurchases will be less than the dividend it would have otherwise been responsible for.
Going a bit further, Businessweek did some calculations surrounding Apple's $17 billion bond deal and deduced that the company is avoiding a $9.2 billion tax hit by borrowing the money as opposed to using its own cash pile.
Specifically, if Apple wanted to raise $17 billion by using its foreign stash of cash, it would have had to repatriate upwards of $
