Alphabet Plans First Kangaroo Bond Sale With Tenors Up to 20 Years

Alphabet, the parent company of Google, has hired banks to prepare its first Australian dollar bond issuance. Kangaroo bonds are foreign-currency bonds issued in the Australian bond market by governments, financial institutions, corporations, and international organizations from outside Australia, denominated in Australian dollars. In addition to ANZ, Deutsche Bank, RBC Capital Markets, and TD Securities will act as joint lead managers.

Earlier this month, Alphabet sold USD 25 billion of bonds in the US dollar market, and in 2026 it also issued bonds in Swiss francs, British pounds, euros, Canadian dollars, and Japanese yen. The company recently raised nearly USD 85 billion through equity financing. During its second-quarter 2026 earnings call, Alphabet raised its 2026 capital expenditure guidance to USD 195 billion to USD 205 billion, up from USD 180 billion to USD 190 billion, and indicated that spending would be even higher in 2027.

Since the start of 2026, US technology giants including Alphabet, Meta, and Amazon have collectively raised hundreds of billions of dollars for artificial intelligence development. In the past week alone, Intel announced a USD 20 billion share issuance to support the expansion of its chip foundry business, while AMD completed a USD 4.75 billion senior unsecured bond offering.