Apple`s Green Bonds

Case Code: FINC199
Case Length: 6 Pages
Period: -
Pub Date: 2022
Teaching Note: Available

Price: Rs.200
Organization: Apple Inc.
Industry: Technology & Communications
Countries: United States
Themes: Bond, Long-term source of financing, Corporate Finance

Abstract Case Intro 1 Case Intro 2 Excerpts

Excerpts

About Apple’s Green Bond Issue

Apple forayed into green bonds in February 2016. This was the first time any US tech company had issued green bonds. It started with a green bond issue worth US$ 1.5 billion. Then, in June 2017, the company issued US$ 1 billion worth of green bonds. This was followed by a US$ 2.2 billion bond issue in November 2019 in the European market (Refer to Exhibit II for details of various other bond issues by Apple) The reasons for the company issuing green bonds were to invest in electric vehicles, sustainability projects of wind and solar plants, energy renewable resources, reduction of carbon emissions, and recycling of materials..

Looking Ahead

Till March 2022, Apple had issued a total of US$ 4.7 billion worth of green bonds to speed up its efforts to achieve its goal of 100% carbon neutrality by 2030..

Exhibits

Exhibit I: Selected Financial Information of Apple Inc.
Exhibit II: Various Bonds Issued by Apple
Exhibit III: Details about Apple Green Bond ISIN US037833CX61 at a Glance
Exhibit IV: Price Movements of the Apple Inc. Bond

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