Apple’s $7 Billion Bond Offering

Simpson Thacher represented the underwriters, led by Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, 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 3 to 10 years.

The offering represents Apple’s third investment grade bond offering of 2017. Since 2013, Apple has raised $99.1 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 (Picture), Dan Webb, Kelli Schultz, Colin Lloyd and Jeremy Bethel (Capital Markets); Jason Vollbracht and Tanvi Mirani (Tax); and Jennie Getsin (Blue Sky).

 

Involved fees earner: Kevin Kennedy – Simpson Thacher & Bartlett; Daniel Webb – Simpson Thacher & Bartlett; Kelli Schultz – Simpson Thacher & Bartlett; Colin Lloyd – Simpson Thacher & Bartlett; Jeremy Bethel – Simpson Thacher & Bartlett; Jason Vollbracht – Simpson Thacher & Bartlett; Tanvi Mirani – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Goldman, Sachs & Co.; Wells Fargo; JP Morgan Securities;