Apple was poised to sell its first-ever Green bond on Tuesday, bringing some clout to the growing market dedicated to environmentally friendly projects.
Brought as part of a $12 billion nine-part bond sale, the seven-year Green bond is raising $1.5 billion for the tech giant at a final spread of US Treasuries plus 135bp.
Apple's bond sale is comprised of fixed and floating rate notes with maturities ranging from two to 30 years. According to two investors, the tech giant amassed a $30 billion order book for the jumbo deal.
"You have got to come up with a decent concession to do these big deals, coming back into a market where there hasn't been a lot of issuance," one investor told IFR.