Alphabet weighs its first Hong Kong and Singapore dollar bonds after the AI selloff, Bloomberg reports
People familiar said it could raise the equivalent of US$1 billion to US$1.5 billion in Hong Kong dollars and about US$1.5 billion in Singapore dollars; talks are ongoing.
Why it matters
Hyperscalers are tapping debt markets they have never used to pay for AI build-outs; Alphabet sold its first Australian dollar bonds in August and has issued notes in Swiss francs, pounds, Canadian dollars and yen this year. A Hong Kong and Singapore deal would test Asian investor appetite after last week's AI selloff and amid concern about tighter scrutiny of AI projects after Democratic midterm gains. Proceeds would be for general corporate purposes. Watch for a mandate announcement and pricing.
Key facts
- About US$1bn–1.5bn in Hong Kong dollars
- About US$1.5bn in Singapore dollars
- Would be Alphabet's first HKD and SGD bonds
- First Australian dollar bonds sold in August
- Proceeds for general corporate purposes
- Talks ongoing; details could change