Apple, Inc. to Tap Debt Markets Yet Again

Like clockwork, every time Apple's (NASDAQ: AAPL) domestic cash position dwindles to near $15 billion, it promptly conducts a bond offering in order to fill its coffers to continue its aggressive capital return program. Just days after reporting a blockbuster fiscal fourth-quarter earnings release, the company has signaled its intention to tap the debt markets yet again.

Apple filed a preliminary prospectus this morning for the offering, which is currently expected to include six tranches. The Mac maker has not yet specified the size of the offering and the interest rates have also not been determined yet.

The notes will come due in November 2019, November 2020, January 2023, January 2025, November 2027, and November 2047. Bloomberg reports that the 2047 notes may price with a spread of around 1.125% over comparable Treasury bonds. For reference, 30-year Treasury bonds are currently yielding around 2.8%, which suggests Apple's 30-year notes may price around 3.925%. Here's how that potential rate would compare to other Apple bonds that mature after 2040.

Source: Fool.com