Apple will reportedly be offering a new bond sale in four parts to raise $5.5 billion in debt. The news comes ahead of the company’s 4 for 1 stock split and record AAPL share highs moving the company close to a $2 trillion market cap milestone.

Apple offered a bond sale just about a year ago raising $7 billion as well as this past May to the tune of $8.5 billion. Now Apple is set to raise another $5.5 billion by issuing bonds in a four-part offering (via Bloomberg).

The iPhone maker is selling bonds in four parts, according to a person with knowledge of the matter. The longest maturity, a 40-year security, will yield 118 basis points above Treasuries, after initially discussing around 135 basis points, the person said, asking not to be identified as the details are private.

Even though it might sound strange for the company to raise a few billion dollars via new debt like this when it usually has hundreds of billions of cash on hand, it can come out ahead by taking on the debt from low-interest bonds to do things like refinancing old debt and buying back its stock. That’s especially true with bonds at record lows and Apple’s ability to earn more on its money than it pays in interest on the bonds.

The bond sale comes after Apple’s record-setting June quarter that produced $59.7 billion revenue with $11.25 billion in profit. Along with the earnings results, Apple also announced its 4 for 1 stock split that will happen at the end of August with the company’s shares surging into the $400+ range.

Other effects of the recent AAPL growth have seen Tim Cook become a billionaire and Apple overtaking Saudi Aramco as the world’s most valuable public company as it nears a $2 trillion valuation.

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