Apple to price fixed-rate notes and floating-rate notes in nine parts

By Devika Patel

Knoxville, Tenn., Feb. 2 – Apple Inc. intends to offer notes in nine tranches, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be sold in six fixed-rate tranches and three floating-rate tranches, with one of the fixed-rate and one of the floating-rate tranches due in 2019, one of the fixed-rate and one of the floating-rate tranches due in 2020, one of the fixed-rate and one of the floating-rate tranches due in 2022, a fixed-rate tranche due in 2024, a fixed-rate tranche due in 2027 and a fixed-rate tranche due in 2047.

The fixed-rate portions will have make-whole calls and par calls. The floaters will be non-callable.

Goldman Sachs & Co., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are the bookrunners.

Proceeds will be used for general corporate purposes, including stock repurchases and dividend payments, working capital, capital expenditures, acquisitions and debt repayment.

The computer, mobile communication and media devices company is based in Cupertino, Calif.

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