Alphabet in Inaugural HK$16 Billion and Inaugural S$2.28 Billion Bonds Issuances

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 its inaugural landmark unregistered offering of HK$16 billion aggregate principal amount of Hong Kong dollar-denominated senior notes and its inaugural landmark unregistered offering of S$2.28 billion aggregate principal amount of Singapore dollar-denominated senior notes.

The HK$ offering comprises HK$7.5 billion aggregate principal amount of 4.350% senior notes due 2028, HK$7 billion aggregate principal amount of 4.700% senior notes due 2031, and HK$1.5 billion aggregate principal amount of 5.200% senior notes due 2036.

The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, Bank of China (Hong Kong) Limited, Industrial and Commercial Bank of China (Asia) Limited, and Standard Chartered Bank are acting as joint lead managers and joint bookrunners. The HK$ offering is scheduled to close on or around November 19, 2026, subject to customary closing conditions.

The S$ offering comprises S$370 million aggregate principal amount of 2.500% senior notes due 2028, S$900 million aggregate principal amount of 3.000% senior notes due 2031, S$330 million aggregate principal amount of 3.400% senior notes due 2036, and S$680 million aggregate principal amount of 3.800% senior notes due 2056.

The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities Asia Private Limited, DBS Bank Ltd., Oversea-Chinese Banking Corporation Limited, and United Overseas Bank Limited are acting as joint lead managers and joint bookrunners. The S$ offering is scheduled to close on or around November 19, 2026, subject to customary closing conditions.

The net proceeds from the offerings 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 €6 billion euro-denominated notes offering earlier this month, a $25 billion U.S. dollar-denominated notes offering, and inaugural A$5.5 billion Australian dollar-denominated notes offering in August 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, Jinhyun Kwon, Jean Choi, and Yongho Chun. Partner Matthew Brigham and associate Adam Girts advised on tax matters. Partner Daniel Ilan and associates Jaehwan Park and Melissa Faragasso advised on IP matters.