Technology giant Alphabet announced Tuesday it is issuing bonds denominated in euros through six separate offerings, just months following a massive debt fundraising effort that brought in approximately $32 billion from dollar, British pound, and Swiss franc markets.
According to Bloomberg News, the parent company of Google is offering a minimum of 3 billion euros, equivalent to roughly $3.5 billion, in bond sales, based on information from a source familiar with the transaction.
Google representatives did not provide an immediate response when contacted for comment by Reuters.
The technology company’s nearly $32 billion fundraising effort in February featured an unusual 100-year bond offering, marking the first such century-long bond issued by a tech company since Motorola’s similar offering in 1997, based on LSEG information.
Major technology companies are turning more frequently to debt financing to support their artificial intelligence initiatives, moving away from their traditional approach of using robust cash generation to finance expansion into emerging technologies.
Current exchange rate: $1 equals 0.8558 euros
