Overview
- Alphabet has appointed ANZ, Deutsche Bank, RBC Capital Markets and TD Securities as joint lead managers for its first Australian‑dollar Kangaroo bond, market messages reported on Monday.
- The planned transaction targets roughly A$5 billion across 3-, 5-, 10- and 20‑year tranches, with the 3‑ and 5‑year notes possible as fixed or floating and the 10‑ and 20‑year notes fixed.
- Pricing guidance is expected imminently and, if completed at the target size, the deal would eclipse Apple’s A$2.25 billion corporate record in Australia.
- The funding push follows a busy 2026 for Alphabet that included large U.S. dollar notes, an equity raise and a $15 billion increase to full‑year capex after the company reported its first quarterly negative free cash flow.
- The move opens local‑currency access for Australian investors to large tech credit and could affect suppliers, data‑center buildouts and regional demand for long‑dated corporate debt.