Alphabet Sets Record-Breaking $5B Bond Debut in Australia

Alphabet's Australian bond debut is set to break records as it plans to raise up to $5 billion in its largest corporate debt issuance in the country. The Google parent has tapped leading banks ANZ, Deutsche Bank, RBC Capital Markets, and TD Securities as joint lead managers for the deal.

The company will sell bonds with maturities of three, five, 10, and 20 years, with $4 billion to $5 billion potentially priced on Wednesday. This would surpass Apple's previous record of $2.25 billion in 2015 and make Alphabet the first AI hyperscaler to raise funds in Australian dollars.

Tech companies are increasingly turning to debt markets to fund their AI spending as they burn through cash reserves. Many large companies are also issuing bonds in foreign currencies to diversify beyond US dollar markets.