Alphabet Inc. sold ¥576.5 billion ($3.6 billion) of bonds in the largest-ever yen deal by a non-Japanese company, as competition to fund data centers and AI infrastructure intensifies. The offering included ¥200.5 billion of five-year bonds priced at 50 basis points over mid-swaps. The sale is part of nearly $60 billion in recent borrowing by Alphabet and reflects rising demand for yen bonds from global firms amid AI-driven capital spending, with non-Japanese yen issuance up more than 280% this

Alphabet Inc. sold ¥576.5 billion ($3.6 billion) of bonds in the largest-ever yen deal by a non-Japanese company, as competition to fund data centers and AI infrastructure intensifies. The offering included ¥200.5 billion of five-year bonds priced at 50 basis points over mid-swaps. The sale is part of nearly $60 billion in recent borrowing by Alphabet and reflects rising demand for yen bonds from global firms amid AI-driven capital spending, with non-Japanese yen issuance up more than 280% this year.