Alphabet has priced its first bond offerings in Hong Kong and Singapore dollars, setting reoffer yields between 2.5% and 5.2% across seven maturities, Reuters reported.
The sale comprises three Hong Kong dollar tranches due in two, five and 10 years, and four Singapore dollar tranches due in two, five, 10 and 30 years. The Hong Kong dollar bonds carry reoffer yields of 4.35%, 4.70% and 5.20%, respectively. The Singapore dollar tranches have yields of 2.50%, 3.00%, 3.40% and 3.80%, Reuters reported.
The term sheets list general corporate needs as the planned use of the funds; repayment of existing debt is one possible use.
Reuters reported that Alphabet is accelerating investment in AI infrastructure as volatility in technology shares has made investors more selective. Strong demand from bond buyers gave the company flexibility to increase the financing, the news agency reported.
Settlement was scheduled for Nov. 19, according to Reuters.
