Alphabet makes 1st Australian dollar bond issuance aiming A$5 billion
Business
Google's parent company, Alphabet, is making its first move into the Australian dollar bond market, hoping to raise about A$5 billion (that's US$3.6 billion).
The money will come amid Alphabet's big investments in artificial intelligence, with bonds stretching up to 20 years, showing they're really in it for the long haul.
Alphabet among top borrowers this year
Alphabet is now one of the biggest US companies borrowing money globally this year; only Amazon has done more.
They've already issued bonds in currencies like Swiss francs and British pounds.
Australia's bond market is booming thanks to strong demand from investors, and this latest sale comes amid Alphabet's AI spending soaring.
The deal's being handled by Australia and New Zealand Banking Group and others.