TOKYO - Alphabet has sold 576.5 billion yen ($3.6 billion) in yen-denominated bonds, the largest-ever such issue by a foreign company, a term sheet showed Friday.
The parent company of Google is in the midst of massive capital expenditure for artificial intelligence, with plans to spend up to $190 billion this year. This is Alphabet’s first yen-denominated debt issuance, and it follows similar moves in euros, sterling, Canadian dollars, and Swiss francs.
Demand was strong among domestic and international investors, according to Mizuho Securities, one of the underwriters. The sale tops the previous record of a 430 billion yen issuance by Warren Buffett’s Berkshire Hathaway in 2019.
The bonds mature in 3, 5, 7, 10, 15, 30, and 40 years, with coupons ranging from 1.965% to 4.599%.
Mizuho Securities, Bank of America, and Morgan Stanley acted as joint bookrunners.