Alphabet hires banks for debut Australian dollar bond offering

Alphabet is preparing to sell bonds denominated in Australian dollars for the first time, adding yet another currency to what has become one of the most aggressive corporate borrowing campaigns in recent memory. The Google parent has hired banks to arrange the offering as US tech companies continue raiding global debt markets to bankroll their AI infrastructure ambitions. Alphabet has been busy in 2026. The company raised roughly $20B through US dollar senior notes back in February, blowing past an initial target of $15B after investor demand proved overwhelming. Orders reportedly topped $140B for that single issuance, meaning investors wanted to lend Alphabet roughly seven times more money than it was asking for. That February deal was just one piece of a broader puzzle. Alphabet also tapped sterling and Swiss franc markets, pushing its total global bond issuance past $30B for the year. Among the more eye-catching tranches: a rare 100-year bond issued in sterling, essentially a bet by bondholders that Alphabet will still be around and solvent in the year 2126. The Australian dollar offering extends that multi-currency strategy into a market Alphabet hasn’t previously accessed. The...