Alphabet Markets Its First Bonds in Hong Kong and Singapore Dollars

Alphabet is seeking buyers for its first bonds denominated in Hong Kong and Singapore dollars, testing demand as market volatility rises and technology companies turn to debt financing for artificial intelligence projects.

The proposed maturities span two to 30 years. Initial guidance for Hong Kong-dollar bonds is about 4.6% for two-year bonds, 5% for five-year bonds and 5.5% for 10-year bonds.

For Singapore-dollar bonds, the initial guidance is about 2.75% for two-year bonds, 3.25% for five-year bonds, 3.65% for 10-year bonds and 4% for 30-year bonds.

Alphabet plans to use the proceeds for general corporate purposes, which may include repaying existing debt.

Alphabet has issued bonds in several currencies this year. It made its first Australian-dollar bond sale in August and also issued bonds in Swiss francs, pounds, Canadian dollars and yen. Earlier this month, it completed its second euro financing of the year through a multi-tranche bond sale.