June 13 (UPI) -- Apple issued its second "green" bond -- valued at $1 billion -- Tuesday to fund the tech company's renewable energy efforts.
Last year the company, based in Cupertino, Calf., sold $1.5 billion worth of bonds in its quest to run 100 percent of its operations on renewable energy.
The latest bond, which matures in 2027, will yield 95 to 100 basis points more than U.S. Treasuries, according to a Bloomberg source. And they are expected to be rated Aa1.
Bank of America, Goldman Sachs and JPMorgan Chase set up the sale.
Apple said the bond sale will also help support its plan for a closed-loop supply chain -- products made entirely using recycled materials.
The company is investing in several non-fossil fuel projects: solar energy, hydroelectric plants and biogas facilities in Oregon, North Carolina, Nevada, Arizona and California. That includes $850 million on a 130-megawatt solar farm near San Francisco over the next quarter century.
Apple says its new Cupertino headquarters, Apple Park, runs entirely on renewable energy and includes rooftop solar panels supplemented by fuel cells. The 2.8 million-square-foot main building, which is ring-shaped in curved glass.
Apple also has received permission to sell power to the wholesale energy markets.
Two weeks ago, Apple criticized President Donald Trump's decision to pull the the United States out of the Paris climate accord to curb greenhouse-gas emissions signed by almost 200 countries.
"Leadership from the business community is essential to address the threat of climate change," Lisa Jackson, Apple's vice president of environment, policy and social initiatives, said in the statement.
The company was among several companies pledging to continue supporting efforts to meet the Paris agreement.
Apple has cash and equivalents totaling $257 billion. But Apple has issued $99 billion to fund stock buybacks and dividends, because most resources are held outside the United States and would be subject to a 35 percent corporate income tax if it moved to the United States.