Alphabet sells yen bonds worth $3.6 billion, largest such issue by foreign company

TOKYO, May 15 (Reuters) - ‌Alphabet ​has ​sold 576.5 billion yen ($3.6 billion) in yen-denominated bonds, a term sheet ‌showed on Friday, the largest-ever issue ⁠by a foreign company.

It is the first yen-denominated ‌debt issue for Alphabet, ‌which like other tech giants is in the midst of a huge investment ​programme in artificial intelligence and has sought to diversify sources of funding.

The parent ⁠of Google has flagged capital expenditure of as much as $190 ​billion this year and has issued bonds in euros, sterling, Canadian dollars ​and Swiss francs.

Demand was ‌strong among domestic and international investors, Mizuho Securities, one of ⁠the underwriters, said, adding that the sale beat the previous record of a 430 ⁠billion yen issuance by Warren Buffett's Berkshire Hathaway ​in 2019.

The term sheet showed Alphabet would issue bonds maturing in 3, 5, 7, 10, 15, ‌30 and 40 years, with coupons ranging from 1.965% to 4.599%.

Mizuho ‌Securities, Bank of America and Morgan ⁠Stanley are acting ‌as joint bookrunners ​on the transaction.

($1 = 158.4500 yen)

(Reporting by Miho Uranaka; Writing by Anton ‌Bridge)

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