Investors flocked to the products, which are mostly distributed through banks, drawn to their high yields and short maturities.
Regulators and analysts have warned that this strategy carries risks, since many insurance WMPs carry short maturities of one or two years, while proceeds are invested long-term in illiquid assets such as foreign real estate or large stakes in listed companies.
The smartphone maker plans to sell $12bn worth of debt across nine tranches, with maturities spanning between two and 30 years, according to several people familiar with the matter.
