The tech giant’s century bond, initially oversubscribed, has declined sharply amid shifting macro conditions and duration risk.
Alphabet’s 100-year bond, issued in February 2026 and maturing in 2126, has fallen more than 7% since its launch. The decline reflects broader repricing in ultra-long duration debt despite strong initial demand that led to oversubscription.
The bond was part of a $10 billion debt offering earlier this year, attracting significant investor interest. However, rising interest rate expectations and heightened sensitivity to duration risk have pressured long-dated corporate bonds across the market.
No immediate market reaction was specified, but the move underscores challenges in holding ultra-long duration securities amid macroeconomic volatility.