Simpson Thacher Advises on Apple’s $7 Billion Bond Offering – Eighth Offering of 2017
11.13.17
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Simpson Thacher represented the underwriters, led by Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with the registered public offering by Apple Inc. (NASDAQ: AAPL) of $7 billion aggregate principal amount of notes over six tranches with maturities ranging from 2 to 30 years. The offering represents Apple’s eighth investment grade bond offering of 2017. Since 2013, Apple has raised over $100 billion across the global debt capital markets, the largest amount of any corporate issuer over this time period.
The net proceeds from the offering will be used for general corporate purposes, including repurchases of common stock and payment of dividends under Apple’s program to return capital to shareholders, funding for working capital, capital expenditures and acquisitions and repayment of debt.
The Simpson Thacher team for the offering included Kevin Kennedy, Dan Webb, Kelli Schultz, Colin Lloyd, Jeremy Bethel and Adam Spaulding (Capital Markets); Christopher Murray (Tax) and Jennie Getsin (Blue Sky).