The Apple logo [Reuters]
The Apple logo [Reuters]

Apple has raised $7.5 billion through an investment-grade corporate bond offering, joining a string of major US tech companies tapping debt markets. The sale drew investor orders exceeding four times the offering size, even as concerns grow over the financial strain that expanding AI investment is placing on big tech firms.

Bloomberg reported Thursday (local time), citing anonymous sources, that Apple secured the $7.5 billion through the investment-grade bond sale.

Orders for the bonds reached as high as $31 billion at one point, according to the sources — more than four times the actual offering size, underscoring strong investor appetite.

Over the past several days, big tech companies have collectively issued around $50 billion in corporate bonds in US markets.

Among the seven tranches in Apple's offering, the 10-year note priced at a spread of 55 basis points over US government bonds — about 25 basis points tighter than initially expected.

That compares favorably with recent spreads for Microsoft at 65 basis points, Meta at 160 basis points and Oracle at 310 basis points.

The wider spreads for other companies reflect growing skepticism about AI-related spending.

Bloomberg said Apple attracted solid demand from investors who had been seeking a stable haven amid a broader market selloff and a flood of AI-related bond supply.

Apple plans to use the proceeds for general corporate purposes, including buybacks.

Bank of America, Deutsche Bank, Goldman Sachs and JPMorgan Chase managed the offering.

"Apple's return to the bond market looks more opportunistic than urgent, allowing it to build a war chest for buybacks or dividends," Robert Schiffman, an analyst at Bloomberg Intelligence, said.

Apple holds an AA+ rating from S&P Global Ratings and previously raised $4.5 billion through a bond sale in May 2025.


mokiya@heraldcorp.com