Apple Inc. (AAPL) has tasked the Credit Suisse Group and the Goldman Sachs Group to issue its first ever bonds in Swiss francs. At least, this was reported to Swissinfo by an insider. But why? Apple is already sitting on a huge pile of cash?

Nevertheless that is what the word is on the street. The maker of the iPhone and the iPad is even expected to move soon on this, mentions the anonymous source. The source wants to remain anonymous since he is not allowed to discuss the matter publicly.

Apple has already issued 40 billion dollars worth of bonds since April 2013. The company issued 17 billion dollars worth of bonds in one go in April 2013 even, the biggest bond sale of a company at the time.

Profit From The Swiss Franc

By borrowing money in Swiss francs, the company is able to profit from the low costs that are required for a loan. This is the consequence of the negative interest rates on bonds from the Swiss government. The costs are now lower than ever.

Considering the available interest rates in Swiss francs, it is very attractive for Apple to issue bonds in that currency, according to Geraurd Charpin from BlueBay Asset Management who manages more than 65.8 billion dollars.

It is not like Apple doesn’t have the money but, if you can get money for free, why would you not take it? The official Apple media relations department was unavailable for comments today regarding the potential bond sale.