Alphabet plans $5B debut bond offering
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- Alphabet is planning a debut Australian dollar bond offering to raise up to $5 billion.
- The deal would mark the largest corporate debt issuance in Australian market history.
- Technology giants are utilising foreign debt markets to fund ongoing artificial intelligence infrastructure spending.
Google parent Alphabet (NASDAQ:GOOGL) plans to raise up to $5 billion in its debut Australian bond offering.
The deal would surpass Apple’s $2.25 billion sale in 2015 as Australia’s largest corporate bond issuance.
The company appointed ANZ, Deutsche Bank, RBC Capital Markets, and TD Securities as joint lead managers.
Reports indicate that the bond package will feature maturities of three, five, 10, and 20 years.
Following the announcement, the Alphabet share price was up at $343.54.
Tech companies are expanding into foreign debt markets to fund rising artificial intelligence infrastructure spending.
Australian dollar offerings by foreign borrowers reached A$60 billion this year as issuers look beyond US markets.
