IOI Properties launches property trust IPO seeking 2.1 billion ringgit
The offering puts the trust's value at about 5.3 billion ringgit, with a Bursa Malaysia listing planned for November 25.
Alphabet launches €6 billion bond offering as demand tops €17 billion
The seven-part offering includes maturities of 2 to 19 years. Alphabet says proceeds may be used to repay existing debt.
Alphabet began a €6 billion bond sale on November 2, drawing just over €17 billion in demand, according to a memo from a bank managing the transaction. The Google parent is offering seven tranches, with pricing expected later that day.
An SEC filing showed that six tranches carry fixed rates and one has a floating rate, with maturities spanning 2 to 19 years. Alphabet said the net proceeds would support general corporate purposes, potentially including repayment of outstanding debt.
The transaction is Alphabet's second euro-denominated offering of the year. It raised €9 billion through six tranches in May, after issuing a 100-year sterling bond in February. Barclays, BNP Paribas and Deutsche Bank are jointly managing the latest offering, the filing showed.
The sale follows pressure on technology shares and bonds amid concerns over the cost of artificial intelligence investment and the returns needed to support it. The Nasdaq lost 5% in October, while Alphabet's US-listed shares declined nearly 19%, their worst month on record.
Alphabet expects capital spending to reach as much as $205 billion for the full year. Separately, its SEC filing showed future payments of $130.5 billion on leases signed but not yet started as of September 30, mainly for data centers. Those commitments were not yet on its balance sheet.