Alphabet raises record 576.5 billion yen in bond sale
Alphabet sold 576.5 billion yen in bonds, the largest yen debt sale by a foreign firm. The Google parent is funding its artificial intelligence expansion.
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ALPHABET INC-CL A sold 576.5B yen ($3.6B) in yen-denominated bonds on Friday. The transaction marks the largest-ever yen bond issuance by a foreign company in Japan. Alphabet is diversifying funding sources to support $190B in capital expenditure for artificial intelligence development this year.
The issuance surpassed the previous record of 430B yen set by BERKSHIRE HATHAWAY INC-CL A in 2019. Mizuho Securities said demand was strong among domestic and international investors. BANK OF AMERICA CORP and MORGAN STANLEY acted as joint bookrunners for the transaction.
