Apple will be a debt-free company after it makes a US$300 million payment on senior debt due February 16, reports the Wall Street Journal (paid subscription required). Apple CFO Fred Anderson said the $300 million will come out of the $4.8 billion in cash that the company was holding when the quarter ended December 27. Anderson also said that a one time $3 million, or one cent per share, gain in the fiscal first quarter was due to Apple’s sale of its remaining stake in Akamai Technologies during the quarter.