Google headquarters, April 2014 file. Anthony Quintano / CC BY 2.0; cropped.
Alphabet is looking to raise about US$3 billion equivalent through its first bond sales in Hong Kong and Singapore dollars, two people familiar with the matter said, as the Google parent prepares a potential entry into two Asian local-currency debt markets.
The size, timing and pricing have not been finalized. One of the people said the sales would likely raise at least US$2.2 billion, with minimum sizes under consideration of HK$8 billion for the Hong Kong dollar portion and S$1.5 billion for the Singapore dollar portion.
The offering could launch as early as Thursday, November 12, with bookbuilding and pricing during Asian trading hours, that person said. Settlement is expected on November 19, according to the same person. Those proposed dates do not mean the bonds have been priced or sold.
The people spoke on condition of anonymity because the matter is private. Alphabet had not immediately commented on the financing plans.
HSBC and J.P. Morgan are coordinating the proposed offering. The new size targets add to the preliminary plans previously reported by JBizNews, which outlined a possible dual-currency sale without a final fundraising amount.
The proposal comes as Alphabet increases spending on data centers and other AI computing infrastructure. Any final borrowing would depend on market conditions and the terms agreed with investors.
JBizNews Desk | Business
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