On November 12, Alphabet initiated its first-ever marketing of Hong Kong dollar- and Singapore dollar-denominated bonds, testing investor appetite amid heightened market volatility. Initial price guidance for the 2-year, 5-year, and 10-year Hong Kong dollar bonds was set at approximately 4.6%, 5%, and 5.5%, respectively, while the 2-year, 5-year, 10-year, and 30-year Singapore dollar bonds carried initial guidance of roughly 2.75%, 3.25%, 3.65%, and 4%. Proceeds from the offering will be used for general corporate purposes, which may include refinancing existing debt. The fundraising reflects a broader trend among major global technology companies turning to debt markets to finance artificial intelligence-related projects. Alphabet issued Australian dollar bonds for the first time in August this year and has also tapped Swiss franc, British pound, Canadian dollar, and Japanese yen markets over the course of the year. Earlier this month, the company raised 6 billion euros through a multi-tranche euro bond offering—its second euro-denominated financing this year.