Apple is planning to raise about $7 billion through its first investment-grade bond offering in more than a year, adding to a flurry of debt issuance by major U.S. technology companies, according to Bloomberg News‘ Brian W. Smith and Michael Gambale.
The company is marketing a seven-part U.S. dollar-denominated deal with maturities ranging from two to 10 years. The structure includes floating-rate notes due in 2028 and 2029, along with fixed-rate securities maturing in 2028, 2029, 2031, 2033, and 2036, people familiar with the matter told the Bloomberg reporters. No final decision has been made on the exact size, which could still shift based on investor demand.
Initial price guidance on the fixed-rate portions ranges from roughly 45 basis points over comparable U.S. Treasuries for the shortest notes to about 80 basis points for the 10-year securities. The floating-rate tranches are being offered at spreads equivalent to the Secured Overnight Financing Rate. Bank of America, Deutsche Bank, Goldman Sachs, and JPMorgan are managing the transaction.
Proceeds are intended for general corporate purposes, including share buybacks, dividends, and capital expenditures. Apple’s debt carries ratings of AA+ from S&P Global Ratings and Aa1 from Moody’s Investors Service, placing it near the top of the investment-grade scale.
The company last sold bonds in May 2025, raising $4.5 billion in a four-tranche offering. The new deal marks Apple’s return after more than a year and is its first seven-part structure in roughly a decade. It comes amid heavy borrowing by other U.S. technology heavyweights as companies fund operations, shareholder returns, and ongoing investments.
MacDailyNews Take: Apple is smartly borrowing cheaply because it can, then returning capital to shareholders, as it has for many years. This is just another routine, high-quality deal from a company whose balance sheet is a fortress.
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