Alphabet, the parent of Google, sold ¥576.5 billion ($3.6 billion) in bonds in the largest ever yen deal by a non-Japanese company as competition to fund data centers and AI infrastructure intensifies. | BLOOMBERG

Alphabet sold ¥576.5 billion ($3.6 billion) of bonds in the biggest ever yen deal by a non-Japanese company as competition to fund centers and AI infrastructure intensifies.

The debut yen bond by the parent of Google includes ¥200.5 billion of five-year bonds at 50 basis points over mid-swaps, according to people familiar with the matter. There were six other tranches.

The latest bond sale is part of a series of bond sales that raise close to $60 billion for the internet giant, a four-month run that ranks as one of the greatest corporate borrowing binges ever. It’s another sign that large global corporates are increasingly looking at the yen bond market as AI-driven capital spending accelerates.…