Apple Inc. returned to the bond market for the first time in two years, raising $4.5 billion through a multi-tranche offering late Monday.
The company said it will use the proceeds to repurchase shares and repay maturing debt.
The offering included $1.5 billion in three-year notes and $1 billion each in five, seven and 10-year maturities. Apple faces $8 billion in debt due between May and November.
The tech giant’s issuance was part of a busy day for the U.S. investment-grade bond market, which saw nearly $35 billion in new debt offerings. Other major issuers included Comcast Corp, DTE Electric Co, and General Motors.
Corporate bond activity has surged ahead of the Federal Reserve’s upcoming policy meeting on Wednesday, as companies seek to avoid potential market volatility following the central bank’s comments. Issuers are also capitalizing on improved credit conditions after recent policy shifts, including eased tariffs announced by former President Donald Trump.
Apple’s bond sale attracted strong investor interest, with order books reportedly reaching $10 billion, more than double the offering size. The deal comes amid tighter credit spreads and renewed demand for high-grade corporate debt following six consecutive weeks of outflows from investment-grade bond funds.
With investors turning to safer assets, high-profile companies are moving quickly to lock in favourable borrowing costs.
