Alphabet in $25 Billion USD-Denominated Bonds Offering

Cleary Gottlieb is representing Alphabet Inc. (Alphabet), the parent company of Google LLC (Google) and one of the world’s most valuable public companies, in an SEC-registered offering of $25 billion aggregate principal amount of U.S. dollar-denominated senior notes.

The offering is comprised of $750 million in floating rate senior notes due 2028, $1.25 billion in 4.500% senior notes due 2028, $500 million in floating rate senior notes due 2029, $2 billion in 4.625% senior notes due 2029, $3.5 billion in 4.875% senior notes due 2031, $2.5 billion in 5.200% senior notes due 2033, $4.5 billion in 5.450% senior notes due 2036, $3 billion in 6.250% senior notes due 2046, $4.5 billion in 6.375% senior notes due 2056, and $2.5 billion in 6.500% senior notes due 2066.

BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and Wells Fargo Securities LLC are acting as representatives of the underwriters for the offering. The offering is scheduled to close on August 10, 2026, subject to customary closing conditions.

The net proceeds from the offering will be used for general corporate purposes, which may include the repayment of outstanding debt.

Alphabet is based in Mountain View, California. Cleary has represented Alphabet in numerous prior transactions, dating back to Alphabet’s reorganization in 2015 in which Cleary served as counsel, and most recently in a €9 billion Euro-denominated notes offering, inaugural C$8.5 billion Canadian dollar-denominated notes offering and inaugural ¥576.5 billion Japanese yen-denominated notes offering in May 2026 and in a $1.2 billion municipal energy prepay transaction and $90 billion equity offering in June 2026.

The Cleary corporate team includes partners Shuangjun Wang and Jeff Karpf, and associates Taewan Roh, Omelebele Edeoga, Madeline Byers, and Jean Choi. Partner Matthew Brigham, and associates Adam Girts and Andrew Guan advised on tax matters. Partner Daniel Ilan, and associates Jaehwan Park and Melissa Faragasso advised on IP matters.