Bond Issuance

Bond Issuance is a data page on the Companies desk of Glassbox Auditing. How much companies are borrowing in the bond market against their own pace: heavy borrowing can signal strain or big spending plans.

Last updated: 5 Nov 2026.

What is on this page today?

AAPL sold $7.5B of bonds — 7 tranches · coupons 4.65%-5.35% · due 2028-2036 · spread up to 55 bp over Treasuries (SEC filings, 5 Nov 2026) AAPL
ET sold $2.7B of bonds — 3 tranches · coupons 5.45%-6.55% · due 2032-2057 (SEC filings, 5 Nov 2026) ET
META sold $9B of bonds — 6 tranches · coupons 4.30%-6.40% · due 2031-2065 · spread up to 276 bp over Treasuries (SEC filings, 3 Nov 2026) META
META sold $15B of bonds — 5 tranches · coupons 5.85%-7.50% · due 2031-2056 · spread up to 220 bp over Treasuries (SEC filings, 2 Nov 2026) META
EQIX sold $2.5B of bonds — 4 tranches · coupons 4.15%-5.45% · due 2028-2038 · spread up to 203 bp over Treasuries (SEC filings, 2 Nov 2026) EQIX
XEL sold $2.5B of convertible notes — 1 tranche · coupon 2.62% · due 2027 (SEC filings, 2 Nov 2026) XEL
ORCL sold $10B of bonds — 5 tranches · coupons 7.00%-8.65% · due 2029-2046 · spread up to 335 bp over Treasuries (SEC filings, 1 Nov 2026) ORCL
GOOGL sold $6B of bonds — 7 tranches · coupons 3.70%-5.25% · due 2028-2045 · spread up to 167 bp over Treasuries (SEC filings, 1 Nov 2026) GOOGL
CARR sold $1.5B of bonds — 2 tranches · coupons 5.00%-5.35% · due 2029-2033 · spread up to 85 bp over Treasuries (SEC filings, 1 Nov 2026) CARR
D sold $600M of bonds — 1 tranche · coupon 5.95% · due 2037 · spread up to 65 bp over Treasuries (SEC filings, 1 Nov 2026) D
MSFT sold $25B of bonds — 10 tranches · coupons 4.85%-6.35% · due 2028-2066 (SEC filings, 29 Oct 2026) MSFT
TXN sold $2B of bonds — 4 tranches · coupons 5.00%-5.75% · due 2028-2036 · spread up to 78 bp over Treasuries (SEC filings, 25 Oct 2026) TXN
39 of 101 large borrowers are raising debt at a record or at least 3 times their five-year pace; JPM raised $155B in 12 months — Debt raised over the last four reported quarters, from the cash-flow statements, for companies that raised $1B or more · 1 are quiet against their own record · the five that raised most, in dollars (SEC filings (cash-flow statements, XBRL), 2 Oct 2026)
Companies raised $243B and repaid $136B of debt in Q3 2026 — Net new debt $106B · 1.2x the average quarter of the five years before · $242B raised in Q3 2025 · every company the terminal audits, by the calendar quarter its fiscal quarter ends in (SEC filings (cash-flow statements, XBRL), 29 Sep 2026)

Where does the data come from?

Items on this page come from SEC filings; SEC filings (cash-flow statements, XBRL). Each item links to its own source. All sources, how items are checked.

What does this page lead to?

Credit & Housing (Macro): Bond sales are the other half of business borrowing beside bank loans; steady issuance means companies can still raise money, and a sudden stop marks tight credit. (moves the same way; months; economy scale) Source: Federal Reserve H.8 (bank assets & liabilities).
Risk Monitor (Briefing): Issuance stalls when credit spreads jump, so a heavy calendar tends to come with calm credit gauges on the Risk Monitor and a drought with stressed ones. (moves the other way; weeks; economy scale) Source: FRED (Federal Reserve Bank of St. Louis).
AI Supply Chain (AI): Large bond sales by the cloud companies pay for data-center building, so money raised in bonds turns into orders for chips, power equipment and construction. (moves the same way; quarters; sector scale) Source: SEC EDGAR filings (10-Q/10-K text).
Dividend Health (Companies): Interest on new debt is paid before any dividend, so heavy borrowing raises the fixed charges a payout has to clear. (moves the other way; quarters; company scale) Source: SEC EDGAR XBRL company facts (10-Q/10-K).
Company Research (Companies): Bond offerings often name share repurchases among the uses of proceeds, so issuance and buybacks tend to rise together. (moves the same way; quarters; company scale) Source: SEC EDGAR filings (10-Q/10-K text).

What feeds this page?

Risk Monitor (Briefing): In stressed markets credit spreads widen and weaker companies tend to delay bond sales, while the strongest borrowers keep issuing. (moves the other way; weeks; company scale) Source: SEC EDGAR filings (10-Q/10-K text).
Signals (Briefing): Rising debt is a leg of the pressure signals; the bonds behind it, and whether borrowing runs ahead of the company's own pace, show on Bond Issuance. (moves the same way; quarters; company scale) Source: SEC EDGAR XBRL company facts (10-Q/10-K).
Company Research (Companies): Companies that repurchase more stock than their free cash flow covers fund the gap with debt, so heavy buybacks tend to come with more bond sales. (moves the same way; quarters; company scale) Source: SEC EDGAR XBRL company facts (10-Q/10-K).
Dividend Health (Companies): A dividend not covered by free cash flow is paid from cash on hand or borrowing, so weak cover tends to come with more bond sales; strong cover needs none. (moves the other way; quarters; company scale) Source: SEC EDGAR XBRL company facts (10-Q/10-K).
Courts & Lawsuits (Companies): Bankruptcy filings and large judgments raise what lenders demand from a company, which tends to slow or stop its bond sales. (moves the other way; months; company scale) Source: SEC EDGAR filings (10-Q/10-K text).
All Indicators (Macro): When the board's Baa credit spread widens, new corporate bonds cost more, and weaker companies tend to borrow less or pay up to refinance. (moves the other way; weeks to months; company scale) Source: FRED (Federal Reserve Bank of St. Louis).
Debt & Interest (Macro): Corporate bonds are priced as a spread over Treasuries, so higher Treasury yields raise the coupon on new company debt and the interest cost at refinancing, which tends to slow issuance by weaker borrowers. (moves the other way; weeks to months; company scale) Source: FRED (Federal Reserve Bank of St. Louis).
Central Banks (World Powers): Higher rates raise what companies pay on new bonds, so issuance tends to slow when rates climb and pick up when they fall. (moves the other way; months; sector scale) Source: FRED (Federal Reserve Bank of St. Louis).

Bond Issuance

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