Alphabet’s 100-Year Sterling Bond Draws Outsize Demand as Multi-Currency Sale Follows $20 Billion U.S. Deal

Overview

• Alphabet’s dollar bond sale raised about $20 billion across seven tranches on Monday, according to people familiar with the transaction.
• The company is marketing a rare 100-year bond in pounds that drew roughly £9.5 billion of orders for a planned £1 billion issue, sources said.
• The broader sterling package is expected to reach a record £5.5 billion with maturities from three to 32 years, and total orders reported near £30 billion.
• Alphabet is also selling at least CHF 2.75 billion in Swiss franc notes across multiple maturities, with both the sterling and franc deals slated to price today.
• JPMorgan, Goldman Sachs and Bank of America are managing the U.S. sale, which comes as hyperscalers tap strong bond demand to fund AI infrastructure, even as some investors flag overheating risks.