Apple has completed a $7.5 billion bond sale, raising debt across seven series with maturities from 2028 through 2036. The offering includes two floating-rate issues and five fixed-rate notes, adding to Apple’s long-term borrowing obligations.
The notes are senior unsecured debt and rank equally with Apple’s other unsecured, unsubordinated debt. The terms set out the interest-payment schedules and maturity dates, but the disclosed information does not state the floating-rate coupons.
Key details
- Apple issued $500 million of floating-rate notes due November 9, 2028, and $750 million of floating-rate notes due November 9, 2029.
- The fixed-rate portion totals $6.25 billion:
- $1 billion of 4.650% notes due November 9, 2028
- $1 billion of 4.750% notes due November 9, 2029
- $1 billion of 4.900% notes due November 9, 2031
- $1.25 billion of 5.100% notes due November 9, 2033
- $2 billion of 5.350% notes due November 9, 2036
- Interest on the floating-rate notes is payable quarterly, beginning February 9, 2027. Interest on the fixed-rate notes is payable twice a year, beginning May 9, 2027.
- The sale was completed on November 9, under an agreement dated November 5.
Plain-English implications
The transaction increases Apple’s debt by $7.5 billion, with repayment obligations spread across maturities from 2028 to 2036. The fixed-rate notes carry stated coupons ranging from 4.650% to 5.350%; the floating-rate notes’ interest costs will vary with their applicable rate terms. The proceeds’ intended use was not specified.