TOKYO—Apple Inc. priced its first ever yen-denominated bond on Thursday, as the company moved to take advantage of superlow borrowing rates in Japan.

The U.S. tech giant will offer ¥ 250 billion ($2 billion) in 0.350%-coupon five-year yen-denominated bonds, according to a term sheet. The bond is a global yen-bond, meaning that international investors as well as those in Japan will be able to purchase it.

The proceeds of the issuance will be used for shareholder returns and possibly to expand Japanese operations, a person familiar with the issue said last week.

A spokesman for Apple declined to comment.

The underwriters of the issue are Goldman Sachs International and Mitsubishi UFJ Securities International.

Apple has issued debt in currencies other than dollars in the past. The company raised debt in euros last year and sold bonds denominated in Swiss francs in February.

Takashi Mochizuki contributed to this article.

Write to Eleanor Warnock at eleanor.warnock@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Mitsubishi UFJ Financial (NYSE:MUFG)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Mitsubishi UFJ Financial Charts.
Mitsubishi UFJ Financial (NYSE:MUFG)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Mitsubishi UFJ Financial Charts.