Apple Seeks To Raise Money Via Debt For Buyback And Dividends

Apple Inc. AAPL is planning to raise debt via four different notes, with the most extended portion of the offering being 40-year security.
The four notes are for the period ending 2029, 2032, 2052 and 2062.
The longest portion of the offering, 40-year security, may yield around 150 basis points over U.S. Treasuries, reported Bloomberg citing a person familiar with the matter.
The company intends to use the proceeds for general corporate purposes, including common stock repurchases and payment of dividends under our program to return capital to shareholders.
AAPL also stated that it might temporarily invest funds that are not immediately needed for these purposes in short-term investments, including cash, cash equivalents, or marketable securities.
Terms of the offering were not disclosed.
As of June 25, 2022, APPL had $108.7 billion of unsecured senior notes and $11.0 billion of unsecured short-term promissory notes outstanding but no secured senior debt outstanding.
Goldman Sachs & Co. LLC GS, BofA Securities BAC, and J.P. Morgan JPM are the joint book-running managers.
Price Action: APPL shares are trading lower by 0.57% at $161.59 on the last check Monday.
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