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Alphabet Eyes Inaugural Australian Dollar Bond, Bookrunner’s Message Says
The deal would add to Alphabet’s recent fundraising as tech firms seek local-currency debt to support heavy artificial intelligence spending.
- On Monday, Alphabet mandated ANZ, Deutsche Bank, RBC Capital Markets, and TD Securities to arrange its inaugural Australian dollar bond, known as a 'Kangaroo' deal in markets shorthand.
- The Google parent is tapping international markets to fund massive AI expansion, having lifted 2026 capital-expenditure guidance to between $195 billion and $205 billion.
- Alphabet has already raised funds in Swiss francs, British pounds, euros, Canadian dollars, and Japanese yen, following a $25 billion U.S. dollar bond deal closed earlier this month.
- Helen Mason, head of credit at Schroders' Australian unit, noted investors must assess whether notes offer sufficient compensation for credit risks, citing a 'structural mismatch' in funding.
- Pricing guidance may arrive as soon as Tuesday, with Chamath De Silva, head of fixed income at BetaShares, describing the potential issuance as a 'first hyperscaler deal' in the local market.
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Alphabet has mandated investment banks to work on its inaugural Australian dollar bond issue, according to a message sent by one of the book runners and reviewed by Reuters on Monday.
·London, United Kingdom
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Google's parent company, Alphabet, plans to enter the Australian bond market to raise billions of Australian dollars for its AI expansion, making it the first major US tech company to issue Australian dollar bonds in nearly 10 years.
·New York, United States
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Total News Sources15
Leaning Left1Leaning Right4Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
C 55%
R 36%
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