AI Bond Binge Overwhelms Wall Street, Pushing Alphabet Overseas

Bankers were still putting the final touches on Alphabet Inc.’s blockbuster $17 billion of bond sales when word started to spread Monday morning on Wall Street: the company is already hawking more debt.

This time, it was in yen. Alphabet’s executives had stayed up through the night to get on with Tokyo investors and pitch the deal. The week prior it had been in euros and Canadian dollars, and, a few months before that, dollars, pounds and Swiss francs. In all, Alphabet will have raised close to $60 billion by the time the yen sale is finalized, a four-month run that ranks as one of the greatest corporate borrowing binges ever.