Alphabet Kicks Off Sale of Its Second Euro Bond This Year

(Bloomberg) -- Alphabet Inc. is offering euro bonds for the second time this year, with a seven-part sale in the latest effort by a hyperscaler to fund artificial intelligence.

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Google's parent company is selling maturities from two to 19 years, according to a person familiar with the matter. Initial price talk on the shortest fixed-rate tranche is around 60 basis points over mid-swaps, said the person, who asked not to be identified. The longest slice of debt is being sold at around 205 to 210 basis points over mid-swaps.

Barclays Plc, BNP Paribas SA and Deutsche Bank AG are managing the latest bond sale, which is expected to price later on Monday.

Investors are starting to show signs of fatigue given the scale and pace of such offerings. Recent sales have attracted weaker demand, with pricing at wider spreads to push the cost of debt higher.

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