Alphabet Inc. (NASDAQ:GOOG) has finalized the pricing of a $20 billion bond issuance split across seven tranches, with maturities stretching from 2029 through 2066, the company said in a statement.
The offering comprises $2.5 billion of 3.700% notes due 2029, $3 billion of 4.100% notes maturing in 2031, $3 billion of 4.400% notes due 2033, and $4.25 billion of 4.800% notes due 2036. Longer-dated debt includes $1.5 billion of 5.500% notes due 2046, $4 billion of 5.650% notes due 2056, and $1.75 billion of 5.750% notes maturing in 2066.
Across the deal, yields range from 3.829% on the shortest maturity to 5.794% on the 40-year bonds. Spreads over comparable U.S. Treasury benchmarks vary from 27 basis points for the 2029 tranche to 95 basis points for the 2066 notes.
BofA Securities, Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC acted as joint global coordinators and joint book-running managers. The notes carry credit ratings of Aa2 from Moody’s and AA+ from S&P, both with stable outlooks.
Settlement of the bonds is scheduled for February 13, 2026. Interest will be paid semi-annually on February 15 and August 15, starting August 15, 2026. The securities will be issued in minimum denominations of $2,000, with additional increments of $1,000.
After underwriting discounts and before expenses, Alphabet expects net proceeds of approximately $19.85 billion from the transaction.