According to a memo reportedly issued by Apple CEO Steve Jobs to Apple staff around the world, Apple is now a "debt free" company.
Company CFO Fred Anderson told The Wall Street Journal in January that the company planned to pay of the debt on February 16. That report stated that, according to Anderson the $300 million would come out of the $4.8 billion in cash that the company was holding when the quarter ended on December 27.
The text of the memo is as follows, according to Swedish Mac news site, 99Mac:
Today is a historic day of sorts for our company. When I arrived back at Apple in mid-1997, the company was burdened with $1 billion of debt. Through everyone's hard work we turned Apple around, paid off the majority of our debt and began to amass a war chest of cash in the bank which has grown to about $4.8 billion! But there was still $300 million of remaining debt, which we decided to hold to maturity.
Today we used $300 million of our cash to pay off this remaining debt.
Apple is now a debt-free company – for the first time in over a decade!
It sure feels good.