Apple Inc. is preparing to issue investment-grade bonds on Monday, according to a source familiar with the plans.

Apple is planning to issue investment-grade bonds in up to four parts, with the longest—a 10-year note—expected to price around 0.70 percentage points above United States Treasuries, according to Bloomberg.

The offering comes as bankers anticipate $35 billion to $40 billion in new U.S. high-grade corporate bond sales this week, with industrial and tech companies like Apple likely driving the bulk of the activity.

Apple’s latest bond sale is being managed by Barclays Plc, Bank of America Corp., Goldman Sachs Group Inc., and JPMorgan Chase & Co., according to a source familiar with the matter.

The company last issued debt in May 2023, raising $5.25 billion across five tranches, including a 30-year bond, according to Bloomberg data.

Apple’s debt has decreased in recent years amid rising borrowing costs.

As of the end of March, the company held approximately $92 billion in long-term debt, including amounts due within a year—down from about $113 billion during the same period in 2022.

Apple’s bonds, set to be issued on Monday, are expected to carry top-tier credit ratings—Aaa from Moody’s and AA+ from S&P Global Ratings, the highest and second-highest ratings available.