Apple's bond sale is now confirmed at $7.5 billion
Details of Apple's expected bond sale have now been confirmed in SEC filings, which show the company aims to raise a slightly higher than expected $7.5 billion. Apple Park - image credit Apple. It had been reported that Apple was aiming to raise around $7 billion through this bond offering, which is the sale of debt. That report was based on a preliminary filing with the SEC, but now the final…
Apple's bond sale has been officially confirmed at $7.5 billion, according to SEC filings. This amount is slightly higher than initially anticipated. Previously, reports had suggested the company planned to raise approximately $7 billion through this bond offering, which involves the sale of debt. The finalized pricing term sheet now reveals that Apple intends to issue seven series of bonds, maturing between 2028 and 2036.
These bonds, whether floating-rate or fixed-rate, will be tied to the Secured Overnight Financing Rate (SOFR), with rates adjusting quarterly for the former. While the SEC filing is for $7.5 billion, Apple anticipates raising around $7.47 billion, accounting for various costs and discounts. The company plans to use these proceeds for general corporate purposes, including repurchasing common stock, paying dividends, funding working capital, capital expenditures, acquisitions, and repaying debt. The allocation of funds among these areas remains undisclosed.
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