June 13th 2017
By Mike Flaminio
Apple has issued a $1 billion in bond debt for renewable energy projects. This bond sale follows previous green bond sales of $1.5 billion.
Apple said it plans to use the proceeds to finance projects involving renewable energy resources and energy efficiency, among other things. The latest bond offering includes a focus on advancing Apple's goal of a closed-loop supply chain, through which products are made using only renewable resources and recycled material.
Bloomberg reports the Apple has issued nearly $100 billion in debt in recent years. The debt is against its $250+ billion in cash, most of which is held overseas. If Apple were to tap that overseas cash, it would be subject to 35% income tax. Rather than letting the money sit or pay those taxes, Apple borrows against that cash.