Nov. 3 at 7:36 PM
$GOOGL ups bond offering from
$15B to
$17.5B in the US after issuing €6.5B of notes in Europe (€250M more than expected) b/c saw investor demand for
$90B in the US - will likely result in favorable pricing (tightening the yield spreads)
$GOOG is selling bonds in the US in 8 parts, ranging from 3 to 50 years .
Rumour: The longest portion of the offering is set to yield +1.07 percentage points more than Treasuries vs initial quote of +1.35 percentage points
Morgan Stanley expects big firms known as hyperscalers to spend about
$3T on infrastructure such as data centers b/n now & 2028. Cash flow can fund about half of that, but debt will be a significant source of funds too.
Alphabet is rated Aa2/AA+
$GS $HSBC $JPM are joint global coordinators & joint bookrunners while BNP Paribas, Crédit Agricole CIB & Deutsche Bank are also joint bookrunners