Alphabet sells $10 billion of bonds at record low yields
The sold 6 different tranches each were auctioned at record low corporate bond yield levels
Alphabet sold $10B 6-tranche bonds at record low bond yields for corporates.
Of the $10B, $5.75B was for ESG or environmental, social and governance purposes. The parent company of Google is looking to fund organizations that support Black entrepreneurs, small and medium businesses impacted by Covid-19, as well as affordable housing, among other eligible proceeds listed in bond documents.
The borrowings can also be used to finance clean energy projects and green buildings. Google has been expanding its use of sustainable energy. It's one of the world's largest corporate buyers of renewable power.
There were reported $31 billion worth of bids for the issues. Initially the company was targeting $7 billion.