(Bloomberg) — Alphabet Inc. started marketing its debut Australian debt offering as the US tech giant targets its latest multi-billion dollar fundraising, with AI spending skyrocketing. <\/p>\n
Most Read from Bloomberg <\/p>\n
The firm is offering Aussie dollar notes in four maturities, including one as long as 20 years, according to an emailed statement from Australia & New Zealand Banking Group, one of the banks on the deal. Alphabet Inc. is seeking to raise about A$5 billion ($3.6 billion) in the deal, people familiar with the matter said earlier. <\/p>\n
Alphabet last month raised its capital spending forecast to as much as $205 billion this year, reigniting concerns about how Big Tech plans to recoup profits from the trillions of dollars they are aiming to spend on their artificial intelligence capabilities. <\/p>\n
Alphabet trails only Amazon.com Inc. so far this year among large US corporates in tapping global debt markets for tens of billions of dollars to fund AI ambitions, even as investors become more picky about which deals to join. In addition to the US market, Google’s parent company has also sold bonds in Swiss francs, British pounds, euros, Canadian dollars and Japanese yen in 2026. <\/p>\n
Australia’s dollar bond market is drawing increasing attention from global treasurers and issuance by overseas borrowers is running at a record pace this year. The Kangaroo market is benefiting from growing demand from both foreign and local investors, which is making it easier for firms to price larger deals and longer bonds. <\/p>\n
Read also: Global Treasurers Fuel Record $36 Billion Kangaroo Sales <\/p>\n
Most Read from Bloomberg Businessweek <\/p>\n
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