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Apple Taps Minority Firms in Bond Deal

The expected smartwatch will be the first brand-new product line unveiled under Apple’s chief, Tim Cook, who took the helm from Steve Jobs nearly three years ago. (AP Photo)
The expected smartwatch will be the first brand-new product line unveiled under Apple’s chief, Tim Cook, who took the helm from Steve Jobs nearly three years ago. (AP Photo)

SAN FRANCISCO (USA Today) — When Apple sold $6.5 billion in bonds on Monday, the technology giant did something else behind the scenes: It tapped two minority financial services firms to take part in the debt offering.

“We’re proud to have a range of banks participate in our recent debt offering, including two well-respected minority-owned companies, Williams Capital and Ramirez & Co.,” said Apple spokeswoman Kristin Huguet.

The firms are two of six co-managers on the deal.

The Rev. Jesse Jackson says this marks the first time that an African American-owned firm and a Latino-owned firm were included in a debt offering from the world’s most valuable company.

Jackson and his Rainbow PUSH Coalition have been pressing Apple and other technology companies to increase diversity, not just in their employee ranks, but among their suppliers as well.

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