Alphabet Issues Rare 100-Year ‘Century Bonds’

Alphabet Inc., the parent of Google, has issued ultra-long-term debt known as century bonds, with maturities stretching into the 22nd century—financial instruments designed to outlast most of today’s workforce.

Key Highlights

• Part of a $20-billion multi-tranche borrowing programme
• Bonds issued in dollars, euros, sterling, and debut bonds in Swiss francs
• First-ever sterling bond issuance by Alphabet
• Strong demand, with orders several times the offer size

What Are Century Bonds?

Century bonds are rare debt securities with 100-year maturities, allowing issuers to lock in funding for generations.
They are more commonly issued by governments or large institutions than corporations.

Typical investors include pension funds and insurers seeking long-term assets to match future liabilities.

Other Century Bond Issuers

Alphabet joins a small group of sterling-denominated century bond issuers, including:

• University of Oxford
• Wellcome Trust
• EDF Energy
• Mexico (government)

Why It Matters

• Shows investor confidence in Alphabet’s long-term stability
• Helps lock in financing at predictable costs for decades
• Signals strong institutional demand for tech-sector debt
• Reflects growing corporate use of ultra-long-term financing

Source: TH, Investing