Alphabet's debut Hong Kong, Singapore bond sales draw about US$5 billion in early orders

Google, Meta, and TikTok opposed Indonesia's proposed copyright bill, arguing it could limit news access, reduce publisher traffic, and impose unfair AI disclosure rules. The bill may allow revoking business permits of noncompliant platforms. Lawmakers aim to pass it by December 12, with payments for news links and AI training potentially flowing through state-supervised bodies.

Alphabet's first Hong Kong and Singapore dollar bond sales received about $6.4 billion in early orders, including from banks arranging the deals. The company plans to invest in AI infrastructure and may increase financing. Initial yields range from 2.75% to 5.50% for different tranches. HSBC and JPMorgan are joint global coordinators.

Nvidia's leadership turmoil led to after-hours gains for AMD (+3%), Broadcom (+3%), and Alphabet (+0.3%). Analysts suggest these companies may benefit as investors hedge Nvidia-related risks. AMD and Broadcom are seen as potential winners in AI hardware, while Alphabet expands its AI chip offerings. Samsung and Chinese chipmakers could also gain from Nvidia's uncertainty.

Alphabet issued HK$ and S$ bonds with $5 billion in orders, rated Aa2 by Moody’s and AA+ by S&P. The issuance may set a benchmark for top-tier debt costs in these markets, potentially lowering borrowing costs for other high-quality issuers, especially for long-dated S$ assets.

AMD and Broadcom shares rose over 4% and 3% respectively in after-hours trading, while Nvidia fell 9% on reports its board may oust CEO Jensen Huang. Analysts suggest rivals could gain market share. Alphabet also saw a slight increase.

Alphabet, Google's parent, set initial price guidance for its first bond sales in Hong Kong and Singapore dollars. The bonds, rated Aa2 by Moody's and AA+ by S&P, have varying yields for 2028-2056 maturities. The sales, coordinated by HSBC and JPMorgan, aim to raise at least $2.2 billion, with settlement on November 19.