Key facts
- Alphabet is considering minimum sizes of HK$8 billion ($1 billion) for the Hong Kong dollar portion and S$1.5 billion ($1.2 billion) for the Singapore dollar portion, one person said.
- Final size, timing and pricing of the two sales have not been set, the person said.
- HSBC and JPMorgan are joint global coordinators, per a term sheet seen by Reuters.
- Bank of China (Hong Kong), ICBC (Asia) and Standard Chartered are working on the Hong Kong dollar sale; DBS, OCBC and UOB on the Singapore dollar portion, the term sheet showed.
- The Hong Kong dollar bonds could carry two-, five- and 10-year maturities; the Singapore dollar bonds two-, five-, 10- and 30-year maturities, per the term sheet.
- Alphabet did not immediately respond to a request for comment.
Alphabet is looking to raise about $3 billion equivalent through its first bond sales in Hong Kong and Singapore dollars, two people with knowledge of the matter told Reuters in a report published November 11, 2026. The people declined to be named as the matter is private.
One of the people said the sales would likely raise at least $2.2 billion, with Alphabet considering minimum sizes of HK$8 billion ($1 billion) for the Hong Kong dollar portion and S$1.5 billion ($1.2 billion) for the Singapore dollar portion. Final size, timing and pricing have not been set, that person said.
Alphabet has mandated HSBC and JPMorgan as joint global coordinators, according to a term sheet seen by Reuters on November 11. Bank of China (Hong Kong), ICBC (Asia) and Standard Chartered are also working on the Hong Kong dollar sale, while DBS, OCBC and UOB are working on the Singapore dollar portion, the sheet showed. UOB did not appear among the people briefed on the matter.
The Hong Kong dollar bonds could have two-, five- and 10-year maturities, while the Singapore dollar bonds could have two-, five-, 10- and 30-year maturities, per the term sheet. Alphabet did not immediately respond to a request for comment.
The sale would add to Alphabet's borrowing this year as it increases spending on data centers and other AI computing infrastructure. Alphabet said in an October 29 filing that it had issued $45 billion of US dollar-denominated notes and $35.8 billion of foreign currency notes in the nine months to end-September for general corporate purposes.
Alphabet raised 6 billion euros ($6.7 billion) through a euro-denominated bond sale in the week before November 11. It also sold $25 billion of US dollar bonds and A$5.5 billion ($3.8 billion) Australian dollar bonds in August. Meta completed a $15 billion US bond sale and Oracle sold $10 billion of bonds in the same week, Reuters reported.