Alphabet sets initial price guidance for Hong Kong, Singapore bond sales, term sheet shows

Nov 12 (Reuters) – Google parent Alphabet has set initial price guidance for its inaugural bond sales in Hong Kong and Singapore dollars, ​according to a term sheet seen by ‌Reuters on Thursday. Here’s more details: • Initial price guidance for the Hong Kong dollar portion was set at 4.60% for the 2028 notes, 5.00% for the 2031 notes, and 5.50% for ‌the ​2036 notes. • The starting rates ⁠for the Singapore dollar ⁠tranche were set at 2.75% for the 2028 notes, 3.25% for the 2031 notes, 3.65% for the 2036 notes, and 4.00% for the 2056 ​notes. • Reuters earlier reported that Alphabet was looking to launch its first bond sales in Hong ⁠Kong and Singapore dollars, ⁠citing two people with knowledge of the ​matter. • One of the people said the sales would ​likely raise at least $2.2 billion, with Alphabet considering ‌minimum sizes of HK$8 billion ($1.02 billion) for the Hong Kong dollar portion and S$1.5 billion ($1.17 billion) for the Singapore dollar portion. • HSBC and JPMorgan are ⁠the joint global coordinators for both the Hong Kong dollar and Singapore dollar sales. • For the Hong Kong dollar ⁠bonds, Bank ‌of China (Hong Kong), ICBC, and Standard ⁠Chartered are arranging the sale. DBS, ​OCBC, and ‌United Overseas Bank will arrange the ​Singapore dollar ⁠bond sale. • The bonds are expected to be rated “Aa2” by Moody’s and “AA+” by S&P, with settlement scheduled for November 19. ($1 = 7.8448 Hong Kong dollars) ($1 = 1.2849 Singapore dollars) (Reporting by Nikita Maria Jino in Bengaluru; Editing ​by Subhranshu Sahu)