Apple Inc. is selling its first bonds in euros as the iPhone maker seeks to fund another round of shareholder rewards without using overseas cash that would be subject to U.S. repatriation taxes.

The world's most valuable technology company is offering eight- and 12-year notes in the single currency, according to a person familiar with the matter, who asked not to be identified because they're not authorized to speak about it. Goldman Sachs Group Inc. and Deutsche Bank AG are managing the sale and the money will be used for share buybacks and dividends as well as other business purposes, the person said.

By borrowing in euros, Cupertino, California-based Apple can take advantage of a market with the lowest yields in six years relative to dollar-denominated debt. Apple, which has the biggest corporate cash hoard at $155 billion, has raised $29 billion from bond sales since 2013 to give back cash to its owners instead of repatriating overseas reserves.