[key points]

Key points

• •Alphabet is issuing a rare 100-year bond as part of a multi-currency bond offering to fund AI investments.
• •The century bond is part of a debut sterling issuance, along with a $20 billion dollar bond and a Swiss franc bond sale.
• •Issuing a century bond in the sterling market is more cost-effective than in the dollar market due to lower interest rates.
• •Century bonds are attractive to long-term investors like life insurance companies and pension funds.