Apple sells USD-1bn green bond

US tech giant Apple Inc (NASDAQ:AAPL) on Tuesday sold a USD-1-billion (EUR 889m) green bond, with proceeds to be used for environmental initiatives.

The 10-year bond attracted a USD-3.5-billion order book and priced with no new issue premium, Reuters reported.

According to a filing with the US Securities and Exchange Commission (SEC), Apple will allocate the funds to projects that reduce the company's impact on climate change "by using renewable energy sources and driving energy efficiency in its facilities, products and supply chain". The proceeds could also be spent on projects focused on the use of greener materials and on conserving resources.

This is Apple's second green bond after an USD-1.5-billion issuance in February 2016.

After US president Donald Trump's decision at the start of this month to withdraw the US from the Paris climate accord, Apple CEO Tim Cook reiterated that the iPhone maker will continue its efforts to protect the environment and will keep relying on renewables.

(USD 1 = EUR 0.889)

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