Apple. which is one of several global corporations that have committed to go 100% renewables, has issued a $1 billion green bond; it’s is second offering after a $1.5 billion green bond was launched in 2016. Pictured is Apple’s Cupertino headquarters that runs on onsite generated solar power. (Photo Credit: Apple Inc.)
- Apple has launched its second green bond worth $1 billion
- It will focus on renewable energy and energy efficiency at Apple facilities and its supply chain
- The fresh bonds will mature in 2027, yielding 95 to 100 basis points more than Treasuries
- Apple had previously issued a green bond in 2016 that totaled $1.5 billion
Apple Inc. has launched its second $1 billion green bond to fund projects focused on renewable energy. In 2016, the tech giant launched its first and ‘biggest green bond ever sold by a US Corporation’ worth $1.5 billion.
The $1 billion bonds will mature in 2027, yielding 95 to 100 basis points more than Treasuries, as per Bloomberg. The proceeds will go to finance renewable energy, energy efficiency at Apple facilities and in its supply chain.
The debt issuance means Apple doesn’t have to tap its vast offshore cash reserves to fund its renewables projects, said Bloomberg.
Apple has committed to operate 100% on renewable energy worldwide. Its Cupertino headquarters Apple Park will run completely on renewable energy with the power supplied from a large-scale solar rooftop system (see 17 MW Rooftop Solar Panels On Apple Park).
From the proceeds of the $1.5 billion bond issued last year, Apple reportedly allocated $442 million to 16 different projects – from renewable energy to recycling, according to Reuters.