Alphabet Raises A$5.5 Billion in First Australian Dollar Bond Sale

Alphabet raised A$5.5 billion, or about $3.9 billion, in its first Australian dollar bond sale, marking its debut in the local debt market. The offering included four tranches with maturities of 3, 5, 10 and 20 years, and Reuters said demand was strong, with orders topping A$18 billion. The deal adds to a wave of borrowing by big technology companies as they spend heavily on artificial intelligence infrastructure, and it is notable because Alphabet is the first major U.S. tech issuer to sell a “Kangaroo” bond in Australia since Apple in 2016.