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Alphabet issues euro debt
Alphabet, Google’s parent company, began offering euro-denominated bonds in seven tranches on Monday, with maturities ranging from two to 19 years, to gauge investor appetite amid concerns that the huge sums technology companies are spending on artificial intelligence may not deliver the expected returns. The offering came after the company lost about $500 billion in market value following a 12.6% drop in its shares on October 29, as the Nasdaq fell 5% over the same month. The bonds’ yields are expected to be set later on Monday.
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