Apple announced in a regulatory filing with the U.S. Securities and Exchange Commission today that the company is planning a four-part debt offering, proceeds of which will be used for general corporate purposes, including share buybacks and dividends, working capital, capex, acquisitions, and to repay debt.
Apple is planning to issue notes that mature in 2023, 2025, 2030 and 2050 with Goldman Sachs, Bank of America Securities, JPMorgan and Morgan Stanley as underwriters on the deal.
Apple says that it will use proceeds from the debt sale for general purposes, including share buybacks and dividends, working capital, capital spending, acquisitions and debt repayment.
MacDailyNews Take: With debt this cheap, it’s a no-brainer for a new Apple debt offering. Expect many more companies to follow suit.
This is a very good time to borrow money, which means it may not be such a great time to lend money. — Warren Buffett, May 2, 2020
Apple’s 424B2 filing with the SEC is here.