Alphabet Raises 3.8 Billion in Asian Bonds

Alphabet raised about $3.8 billion through its first-ever Hong Kong and Singapore dollar bonds, beating its $3B target after investors placed more than $7B in orders. The bonds settle on November 19 and are expected to be rated Aa2 by Moody's and AA+ by S&P. Proceeds go to general corporate purposes, which may include repaying debt.