🇺🇸Alphabet sought up to $25 billion through ten bond tranches, attracting approximately $115 billion of orders.

Alphabet launched a ten-part U.S.-dollar investment-grade bond offering and sought to raise as much as $25 billion. The transaction added a large block of corporate-bond supply to the market, with longer-dated U.S. Treasury yields reaching intraday highs after the offering was announced.

Orders reached approximately $115 billion, more than four times the contemplated maximum issuance. The reported demand also exceeded the order books for recent AI-related bond offerings from Amazon and SpaceX.

Alphabet offered a relatively high new-issue concession to attract investors. The sources describe the $25 billion figure as the maximum sought, not the final amount issued.