Alphabet Inc. (Google) i rekordsalg af ESG-obligation til rekordlave afkast

    Alphabet Inc. (Google) har solgt obligationer for $ 5,75 milliarder. Det er det største salg af erhvervsobligationer dedikeret til miljømæssige, sociale og governancemæssige formål, skriver Bloomberg.

    The parent company of Google is looking to fund organizations that support Black entrepreneurs, small and medium businesses impacted by Covid-19, as well as affordable housing, among other eligible proceeds listed in bond documents seen by Bloomberg. The borrowings can also be used to finance clean energy projects and green buildings

    The bond sale comes amid a surge in similar offerings geared toward ESG efforts, with social bonds driving much of the increase due to the pandemic. Those offerings jumped 376% in the first half of 2020 compared to the same period last year, according to a report by BloombergNEF.

    “Going forward, we can expect to see more sustainability deals from tech companies given the continuing shift to a digital economy and their ability to influence how consumers spend money,” said Stephen Liberatore, head of the responsible fixed-income strategy team at Nuveen.

    Alphabet sold $10 billion of bonds in total, with other proceeds to fund generate corporate purposes. It set record low yields on the seven-year portion at 0.8% and with 40-year debt at 2.25%, besting levels set by Inc. in June. Alphabet’s new 10-year bonds will yield 1.1%, as will similarly-dated debt from industrial gas company Praxair Inc. also issued on Monday.