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Alphabet to sell 100-year bond as part of mega debt issue - report
(Sharecast News) - Google parent Alphabet is reportedly planning to sell a 100-year bond as part of its mega debt issue, in the first sale of such long-dated debt by a technology firm since the late 1990s. According to Bloomberg, citing a person familiar with the matter, the 100-year bond will be denominated in sterling, along with four other tranches in the currency. It was understood that the deal, which is Alphabet's debut sterling sale, could be priced as early as Tuesday.
It marks the first sale with such an extreme maturity by a technology firm since Motorola sold this type of debt in 1997, according to data compiled by Bloomberg.
The market for 100-year bonds is dominated by governments and institutions like universities. For corporates, potential acquisitions, outdated business models and technological obsolescence make such deals a rarity, Bloomberg said.
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