Alphabet Set for Aussie Dollar Bond Debut

Alphabet is considering its first Australian dollar bond issue, according to a message from one of the book runners.

The US tech giant has mandated investment banks ANZ, Deutsche Bank, RBC Capital Markets, and TD Securities to work on the transaction.

The bonds could be issued with fixed or floating rates: three- and five-year bonds may have variable interest rates, while 10- and 20-year bonds would have fixed rates.

This move follows Alphabet's recent $25 billion dollar bond issue in August and a $85 billion equity capital raise in June. The company has been facing increased spending on AI, with an estimated $730 billion outlay this year squeezing its cash flows.