Apple issues new $1B bond to finance 'green' energy projects
Apple on Tuesday issued its second-ever "green" bond sale, valued at $1 billion, intended to fund the company's renewable energy builds as well as other environmental efforts, like improved energy efficiency.
The bonds will mature in 2027, and should yield 95 to 100 basis points more than Treasuries, according to Bloomberg sources. The sale was organized by Bank of America, Goldman Sachs, and JPMorgan Chase.
Apple added that the deal will also help support its plan for a closed-loop supply chain, in which products will be made entirely using recycled materials. The company first revealed the initiative in April, but admitted at the time that it's not sure how it will achieve that goal, apart from building on technologies like its "Liam" iPhone recycling robot.
In the meantime, the company is hoping to power its operations entirely with renewable energy — this includes investments in solar, biogas, and hydroelectricity in the U.S. and abroad. The company's new Cupertino headquarters, Apple Park, is in fact lined with rooftop solar panels, and supplemented by fuel cells.
Apple's first green bonds were issued in a Feb. 2016 sale worth $1.5 billion. This March the company broke down how $441.6 million of that was spent, noting that most of it went towards buildings and renewable energy.
Recently Apple was one of many U.S. entities that vowed to continue supporting the Paris climate accord, despite President Donald Trump announcing the country would pull out.