This deal helps Alphabet secure more capital for its positioning in the AI capacity buildout race. The deal saw $115 billion in orders.
Another $25 billion
Alphabet issued $25 billion in bonds – helping to fund its $200 billion expected 2026 capex.
$115 billion order book
The book secured $115 billion in orders at its peak.
2- to 40-year tranches
The deal was sold in ten tranches – from two to forty years. The 2-year priced at T + 33bps (4.575%) and the 40-year priced at T + 130bps (6.527%).
Alphabet tapping every market – USD, EUR, GBP, JPY, CHF, CAD
Alphabet says it plans to issue USD bonds twice a year.
This follows a $20 billion deal in February. It has also issued bonds in EUR, GBP, JPY, CHF and CAD this year. The company also announced a $85 billion equity raise in June (sold in parts).
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