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Alphabet raises $3.9 billion in debut Australian dollar bond sale
The offering drew more than A$18 billion in bids and included 3-, 5-, 10-, and 20-year tranches, with the longest coupon set at 6.9%.
Alphabet has raised A$5.5 billion, about $3.9 billion, through its first Australian dollar debt issuance, according to a Reuters term sheet reviewed by the outlet.
The transaction sold 3-, 5-, 10-, and 20-year bonds, with the coupon set at 6.9% for the longest maturity tranche, Reuters reported.
Bids for the debt offering totaled more than A$18 billion, signaling strong investor demand for new notes from technology companies.
Reuters said Alphabet and other global tech firms are turning to capital markets to finance heavy AI spending, after largely funding investment with existing cash, and it noted Alphabet reported its first-ever negative free cash flow in its second-quarter results.