A term sheet has revealed that Alphabet is planning its first-ever issuance of Hong Kong dollar and Singapore dollar bonds, as the Google parent company further expands its presence in Asia's bond markets.

The term sheet shows that the tech giant has appointed HSBC and JPMorgan as joint global coordinators for the potential dual-currency fixed-rate senior unsecured notes offering denominated in Hong Kong dollars and Singapore dollars.

Should the bond issuance proceed successfully, it is expected to receive ratings of "Aa2" from Moody's and "AA+" from S&P, in line with Alphabet's issuer ratings. The Hong Kong dollar portion may include 2-year, 5-year, and 10-year senior unsecured fixed-rate notes, subject to market conditions.

According to the term sheet, this issuance will mark Alphabet's first-ever bond offering denominated in Hong Kong dollars and Singapore dollars. Alphabet, whose businesses include Google Search, YouTube, Android, Chrome, and Google Cloud, is one of the highest-rated corporate borrowers globally and a frequent issuer in the US dollar bond market.