Apple to sell fixed-rate notes and floating-rate notes in five parts

By Devika Patel

Knoxville, Tenn., Sept. 5 – Apple Inc. intends to offer dollar-denominated notes in five tranches, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be sold in four fixed-rate tranches and one floating-rate tranche, with one of the fixed-rate and the floating-rate tranche due in 2019, one of the fixed-rate tranches due in 2022, 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., BofA Merrill Lynch and Deutsche Bank Securities Inc. 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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