Alphabet is seeking about $3 billion equivalent through its first bond sales denominated in Hong Kong and Singapore dollars, testing Asian investor demand after an AI-led selloff shook global markets earlier this month. The offerings are expected to raise at least $2.2 billion, with potential minimum sizes of HK$8 billion, or about $1 billion, and S$1.5 billion, or roughly $1.2 billion. Final size, pricing and timing have not been set, although Nov. 12 has been discussed as a possible launch date, with settlement on Nov. 19, 2026. HSBC, JPMorgan and Bank of China (Hong Kong) are among the mandated lead banks. The bonds could be issued in several tranches with maturities ranging from two to 30 years and are expected to receive Aa2 and AA+ ratings from Moody's and S&P, respectively. Proceeds would support general corporate purposes, including data-center and AI-infrastructure investment. The sale would extend Alphabet's mult currency borrowing strategy after $80.8 billion of note issuance through September 2026 and a record-setting A$5.5 billion Australian dollar bond in August.