Alphabet raises $10B with the biggest, cheapest bond sale in its history

Google parent Alphabet borrowed $10 billion via its biggest — and cheapest — corporate bond sale ever on Monday. The company pledged to use $4.5 billion for corporate moves, like acquisitions, and funnel the other $5.5 billion into environmental and social initiatives. Alphabet said the latter represents “the largest sustainability or green bond by any company in history.” “Although a number of companies have issued green bonds (directed solely to environmental uses), sustainability bonds differ in that their proceeds support investment in both environmental and social initiatives,” said Alphabet in a statement. [Read: Big Tech told Congress there’s loads of competition. This chart says otherwise]…

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