Apple set terms for a $7.5 billion bond offering in a prospectus supplement filed Nov. 6, with proceeds intended for shareholder returns, capital spending and other corporate needs.
Two floating-rate notes total $1.25 billion and mature in 2028 and 2029. Their rates reset quarterly and are tied to compounded SOFR, with spreads of 0.33 and 0.45 percentage points.
The other five notes carry fixed rates from 4.65% to 5.35% and mature between 2028 and 2036. Apple estimates net proceeds of about $7.47 billion after underwriting discounts and offering expenses.
Apple said it intends to use the funds for general corporate purposes, including share repurchases, dividends, working capital, capital spending, acquisitions and debt repayment. Delivery of the notes is expected on or about Nov. 9, according to the prospectus supplement.
