Investors offer Apple more than four times the 7 billion dollars it wants to borrow, in the middle of a tech sell-off

Apple on Thursday filed a preliminary prospectus with the US Securities and Exchange Commission for seven series of bonds maturing between 2028 and 2036, 9to5Mac reports. According to Bloomberg, the company is aiming for about 7 billion dollars and had already drawn orders of some 31 billion dollars. Thanks to that strong demand, investors were reportedly willing to accept a lower interest rate than on recent borrowing by Microsoft, Meta and Oracle.

While other big tech companies are borrowing heavily to pay for their AI infrastructure, Apple does not mention AI in its prospectus, 9to5Mac notes. The money is for general purposes, possibly including buying back its own shares, dividends, acquisitions and repaying debt. The issue coincided with a heavy day on Wall Street, when the Nasdaq 100 lost more than 6 percent at one point and Nvidia about 8 percent. Apple's shares held up better. The final size and terms will follow in a new SEC filing.