Google parent Alphabet has launched its second euro bond offering this year,
split into seven tranches to fund AI investments. Maturities run 2–19 years;
initial guidance puts the shortest fixed-rate tranche at about 60bps over
mid-swap and the longest around 205–210bps. Barclays, BNP Paribas and Deutsche
Bank are bookrunners; the deal is expected to price later on Monday. Demand for
recent tech euro issuance has softened, forcing wider spreads and increasing
debt funding costs.