Apple Inc., one of the most cash-rich companies in the world, is still looking to get a piece of the ultra-cheap money that's up for grabs in the bond market.

With investment-grade bond yields hovering near record lows, it's tempting even for Apple—with more than $200 billion of cash and investment securities on its books—to see what investors will lend it. Turns out that number is $7 billion, or just over 3 percent of its current coffers.

With the 30-year Treasury at record lows, many companies have been able to borrow more cheaply for much longer. Apple will pay around 2.98 percent interest on its new 30-year bonds, compared with the 3.45 percent it's paying on three-decade bonds it sold in 2015. On a $1.5 billion issue, that equates to savings of just over $7 million of interest annually, or $211.5 million over the course of three decades.

Today's debt sale helps Apple refinance roughly $2 billion of debt that's scheduled to mature this year, in addition to much of the $10 billion it has coming due in 2020, according to data compiled by Bloomberg.

Apple's not the only one seizing this golden opportunity. A record 21 U.S. investment-grade companies tapped the market Tuesday, borrowing a combined $27 billion. With more than a dozen deals in the works Wednesday, this week's issuance is already set to hit $54 billion, comfortably surpassing dealer estimates of $40 billion.

See also:

• The World's Biggest Borrowers
• Companies Securitize Everything as Investors Reach for Yield
• Companies Spent Their Summer Vacation Selling Bonds

 – With assistance from Luke Kawa.

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