Alphabet eyes $3 billion Hong Kong, Singapore bond sale, sources say

Alphabet is considering raising approximately $3 billion in bonds from Asian investors through sales in Hong Kong and Singapore dollars, according to sources familiar with the matter. The sales, which may total at least $2.2 billion, are being explored amid an AI-led sell-off in global markets. Alphabet has named HSBC and JPMorgan as joint global coordinators for the bond issuance.

Bank of China (Hong Kong), ICBC (Asia), and Standard Chartered will be involved in the Hong Kong dollar portion, while DBS, OCBC, and UOB are participating in the Singapore dollar sale. The bonds could have maturities ranging from two to 10 years in Hong Kong and two to 30 years in Singapore. This move is part of Alphabet's strategy to boost borrowing this year as the company increases investments in data centers and AI computing infrastructure.

In the nine months leading up to September, Alphabet had issued $45 billion of USD-denominated notes and $35.8 billion of foreign currency notes for general corporate purposes.