Overview
- Alphabet completed a six-part euro offering with maturities from three to 39 years, with pricing roughly 60 to 190 basis points over mid-swaps.
- Goldman Sachs, HSBC, and JPMorgan led the deal, with BNP Paribas, Crédit Agricole CIB, and Deutsche Bank also serving as bookrunners.
- This is Alphabet’s second euro bond sale of 2025 following a €6.75 billion debut earlier in the year that drew strong demand.
- Proceeds are earmarked for general corporate purposes, providing flexibility to fund data centers, AI chips, and cloud expansion.
- The financing follows Q3 sales of $87.5 billion and more than 200% year-over-year growth in generative-AI revenue, supported by Aa2/AA+ credit ratings.