Alphabet Launches Hong Kong Dollar and Singapore Dollar Bond Sale, Price Guidance Announced

Alphabet Inc. has begun marketing its inaugural Hong Kong dollar and Singapore dollar bond offerings to gauge investor interest. The initial price guidance for the proposed 2-year, 5-year, and 10-year Hong Kong dollar bonds is approximately 4.6%, 5%, and 5.5%, respectively. Additionally, the company is marketing 2-year, 5-year, 10-year, and 30-year Singapore dollar bonds, with price guidance of approximately 2.75%, 3.25%, 3.65%, and 4%. The funds raised from this offering will be used for general corporate purposes, which may include repaying existing debt, with bonds potentially pricing as early as Thursday. This transaction comes at a challenging time for borrowers in the tech sector, as concerns grow that the Democratic Party's potential influence in the upcoming U.S. midterm elections could lead to stricter scrutiny of data center development and artificial intelligence infrastructure spending, making investors more cautious about AI-related assets. The sector is also affected by market turmoil triggered by Nvidia, which is seeking a potential successor to CEO Jensen Huang.

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