Alphabet in $17.5 Billion Offering and €6.5 Billion Offering

Cleary Gottlieb represented Alphabet Inc. (Alphabet), the parent company of Google LLC (Google) and one of the world’s most valuable public companies, in concurrent SEC-registered offerings of $17.5 billion aggregate principal amount of U.S. dollar-denominated senior notes and €6.5 billion aggregate principal amount of euro-denominated senior notes.

Both offerings closed on November 6, 2025.

The USD offering comprised of $500 million in floating-rate senior notes due 2028, $1 billion in 3.875% senior notes due 2028, $2.5 billion in 4.1% senior notes due 2030, $1.25 billion in 4.375% senior notes due 2032, $3.5 billion in 4.7% senior notes due 2035, $2 billion in 5.35% senior notes due 2045, $4 billion in 5.45% senior notes due 2055 and $2.75 billion in 5.7% senior notes due 2075.

Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, BofA Securities Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and Wells Fargo Securities LLC acted as representatives of the underwriters for the offering.

The euro offering comprised of €1 billion in 2.375% senior notes due 2028, €1 billion in 2.875% senior notes due 2031, €1 billion in 3.125% senior notes due 2034, €1 billion in 3.5% senior notes due 2038, €1.25 billion in 4% senior notes due 2044 and €1.25 billion in 4.375% senior notes due 2064.

Goldman Sachs & Co. LLC, HSBC Bank plc, J.P. Morgan Securities plc, BNP PARIBAS, Crédit Agricole Corporate and Investment Bank, and Deutsche Bank AG, London Branch acted as representatives of the underwriters for the offering.

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. The transaction was Alphabet’s fifth capital-raising capital markets transaction since the holding company reorganization that was implemented on October 2, 2015, in which Cleary also served as counsel.