Feb. 9 at 6:21 PM
$GOOGL lining up banks to sell a rare 100-year bond. The so-called century bond will form part of a debut sterling issuance this week
$GOOG also selling
$15B of USD bonds on Monday & lining up a Swiss franc bond sale
The USD bond sale reportedly draws over
$100B of demand!!! It’s in as many as 7 parts - longest portion of the US deal — debt maturing in 2066 — is set to yield about +0.95ppts more than Treasuries - earlier talk was around +1.2ppt
Alphabet’s long-term debt jumped to
$46.5B in FY25, up more than 4x the previous year, though it still held cash & equivalents of
$126.8B at YE25
GS,
$BAC &
$JPM are the bookrunners on the bond sales across 3 currencies. DB, WFC, &
$RY also managing the deal.
Morgan Stanley: Expects hyperscalers to borrow
$400B this year, up from
$165B in 2025
Dell'Oro: Cap-ex in AI, cloud infrastructure & data centers is expected to reach
$3T in aggregate by 2029
