Googleplex in Mountain View, California, August 2014. Jijithecat / Wikimedia Commons, CC BY-SA 4.0; cropped. File photo.
Alphabet is planning its first bond offerings in Hong Kong and Singapore dollars, with HSBC and J.P. Morgan appointed to coordinate a potential sale.
The proposed dual-currency offering would consist of fixed-rate senior unsecured notes. The plans outlined in a term sheet Wednesday in Asia do not amount to a priced or completed offering.
The Hong Kong dollar portion could include notes maturing in two, five and 10 years, subject to market conditions. A final size, coupon and pricing for either currency were not specified in the details available.
If issued, the notes are expected to carry ratings of Aa2 from Moody’s and AA+ from S&P, in line with Alphabet’s issuer ratings.
The plans would bring Alphabet into two Asian local-currency debt markets for the first time. It is already a regular borrower in the U.S. dollar bond market.
Alphabet’s businesses include Google Search, YouTube, Android, Chrome and Google Cloud. The financing plan remains subject to market conditions, rather than representing a completed fundraising.
JBizNews Desk | Business
© JBizNews.com. All rights reserved. Unauthorized reproduction or redistribution is strictly prohibited.
