Apple Inc. NASDAQ:AAPL has just issued its very first debut offering in euros. The bonds will mature in eight and 12 years and follow the plan Apple had announced previously. The offering not only raises Apple Inc. NASDAQ:AAPL’s debt but does so at some of the lowest interest rates every offered.

Apple Inc. (AAPL) Issues First Non-Dollar Bond

Apple’s (AAPL) bonds bring low yields

The Wall Street Journal reports that the bonds bring the lowest yields ever for corporate debt lasting eight and 12 years, enabling Apple to take advantage of the lowest interest rates Europe has ever had. The total offering is €2.8 billion ($3.5 billion).

The eight-year bonds yield an interest rate of 1.082%, while the 12-year bonds bring a yield of 1.671%. Both rates are lower than the rates in some states in the Eurozone, and data from Dealogic indicates that the rates undercut all corporate bonds in euros of those maturity lengths.

Previously, The Coca-Cola Company NYSE:KO had held the record for the lowest interest rate for debt of similar lengths. In September, the beverage maker sold eight-year bonds in euros with a 1.2% interest rate. The company also previously sold 12-year bonds in the Eurozone at a rate of 1.9%, according to data from Dealogic.

Apple (AAPL) debt is highly rated

Standard & Poor’s rates Apple Inc. NASDAQ:AAPL’s credit as AA1, which is the second highest rating. Alix Stewart of Schroder Investment Management told The Wall Street Journal that Apple’s high quality credit and the yield above government bonds for such a high quality name could be attractive for investors, particularly in the low yield environment.

Borrowing costs in the European Union have declined as the zone’s central bank has held interest rates close to zero and taken a number of steps in an attempt to give the economy a boost. A Markit index indicates that the average yield for euro-denominated bonds for companies that are not in the financial industry is at 1.5%, which is close to a record low. Borrowing costs on the U.S. dollar, however, are much higher at 3.93%.

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