Alphabet has lined up banks to sell a rare 100-year bond, stepping up a borrowing spree by Big Tech companies racing to fund their vast investments in AI this year.
The so-called century bond will form part of a debut sterling issuance this week by Google’s parent company, said people familiar with the matter.
Alphabet was also selling $20bn of dollar bonds on Monday and lining up a Swiss franc bond sale, the people said. The dollar portion of the deal was upsized from $15bn because of strong demand, they added.
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