Alphabet sold ?576.5 billion ($3.6 billion) of bonds in the biggest ever yen deal by a non-Japanese company as competition to fund centers and AI infrastructure intensifies.
The debut yen bond by the parent of Google includes ?200.5 billion of five-year bonds at 50 basis points over mid-swaps, according to people familiar with the matter. There were six other tranches.
The latest bond sale is part of a series of bond sales that raise close to $60 billion for the internet giant, a four-month run that ranks as one of the greatest corporate borrowing binges ever. It¡¯s another sign that large global corporates are increasingly looking at the yen bond market as AI-driven capital spending accelerates. Yen bond sales by non-Japanese issuers have risen over 280% to ?1.6 trillion this year.
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