Alphabet sets initial price guidance for Hong Kong, Singapore bond sales, term sheet shows
HSBC and JPMorgan are the joint global coordinators
Alphabet, Google's parent company, has announced initial price guidance for its first bond sales in Hong Kong and Singapore, according to a term sheet revealed by Reuters on Thursday. The company plans to issue notes in both Hong Kong and Singapore dollars, with specific interest rates set for various maturities. For the Hong Kong dollar portion, the guidance ranges from 4.6% for the 2028 notes to 5.5% for the 2036 notes.
In contrast, the Singapore dollar tranche will start at lower rates, at 2.75% for the 2028 notes, 3.25% for the 2031 notes, 3.65% for the 2036 notes, and 4% for the 2056 notes. Reuters previously reported that Alphabet aimed to launch these sales in Hong Kong and Singapore, with estimates suggesting the company could raise at least $2.2 billion through these offerings.
The Hong Kong dollar bonds will be arranged by Bank of China (Hong Kong), ICBC, and Standard Chartered, while the Singapore dollar bonds will be managed by DBS, OCBC, and United Overseas Bank. Upon successful issuance, these bonds are expected to receive ratings of "Aa2" from Moody's and "AA+" from S&P. The settlement for the Hong Kong dollar bonds is scheduled for November 19.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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