Alphabet Sells Largest Corporate ESG Bond at Record Low Yields

Alphabet Inc. sold $5.75 billion of bonds with rock-bottom yields in the largest corporate bond sale dedicated to environmental, social and governance purposes.

The parent company of Google is looking to fund organizations that support Black entrepreneurs, small and medium businesses impacted by Covid-19, as well as affordable housing, among other eligible proceeds listed in bond documents seen by Bloomberg. The borrowings can also be used to finance clean energy projects and green buildings.

Watch: Google parent Alphabet just tapped the high-grade bond market, aiming to support black entrepreneurs among other social causes.

(Source: Bloomberg)

The bond sale comes amid a surge in similar offerings geared toward ESG efforts, with social bonds driving much of the increase due to the ...