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Apple raised USD 7.5 billion through a seven-part US dollar bond offering, according to a term sheet seen by Reuters. The sale marks the company’s return to the debt market after more than a year and underscores the growing appetite of major technology firms for large-scale corporate borrowing.
The investment-grade offering drew peak orders of about USD 31 billion, more than four times the size of the deal. The strong response came despite a broader sell-off across credit markets and a crowded calendar of debt issuance from technology companies.
This includes both fixed-rate and floating-rate notes, with maturities ranging from 2026 to 2036. Apple priced USD 3.5 billion of shorter-dated and floating-rate debt, while placing USD 4 billion across longer-dated fixed-rate tranches.
The largest tranche is a USD 2 billion 10-year bond maturing in 2036. It carries a coupon of 5.35 percent and is priced at a spread of 55 basis points over comparable US Treasuries. The final spread was 25 basis points tighter than the initial guidance, reflecting robust investor demand.
Apple also sold USD 1 billion of notes maturing in 2026 at 4.65 percent, USD 1 billion maturing in 2029 at 4.75 percent, USD 1 billion maturing in 2031 at 4.90 percent, and USD 1.25 billion maturing in 2033 at 5.10 percent. The company raised another USD 1.25 billion through floating-rate notes maturing in 2028 and 2029.
Apple said it would use the proceeds for general corporate purposes. These include funding share buybacks and repaying outstanding debt.
Apple’s balance sheet remains among the strongest in the corporate world, and it carries an AA+ rating from S&P Global Ratings. The successful pricing signals that investors continue to favour top-rated issuers, even as they demand tighter pricing and carefully assess the growing volume of technology-sector debt.
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