The deal comes as bankers expect $35 billion to $40 billion in issuance of new US high-grade corporate bonds this week, with industrial and technology firms like Apple potentially accounting for the bulk of sales.
Barclays Plc, Bank of America Corp., Goldman Sachs Group Inc. and JPMorgan Chase & Co. are managing Apple's debt sale, the person said.
The company's most recent bond sale was in May 2023, when it issued $5.25 billion of securities in five parts, including 30-year debt, according to data compiled by Bloomberg.
Apple's debt levels have declined in recent years as borrowing costs broadly increased. At the end of March, the company had about $92 billion in long-term debt, including obligations due within the coming 12 months. That figure was closer to $113 billion during the equivalent period in 2022.
See also: Nvidia hits US$4 trillion value as rally notches another milestone
The bonds that Apple is selling on Monday are expected to be graded as Aaa, the highest level from Moody's Ratings, and AA+, the second highest from S&P Global Ratings.
Issuer Profile
Debt distribution: AAPL US Equity DDIS
Capital structure: AAPL US Equity CAST
See also: Over a third of Singapore professionals are upskilling on Coursera
Related securities: AAPL US Equity RELS
Ratings history: AAPL US Equity CRPR