Alphabet百年债首次跌破面值九成 超大规模云服务商债券信用利差走阔

环球市场播报
Jul 24

  Alphabet Inc.今年早些时候在全球大举发债之际,于英镑市场发行了一只100年期债券,这只债券价格首次跌破了每英镑面值买价90便士。

  彭博汇编的数据显示,这只10亿英镑(13.4亿美元)、2126年到期的债券周四报89.978便士。这家科技巨头今年2月发行这只债券时,发行价略低于面值。其相对于无风险基准利率的风险溢价一度触及139.8个基点的高位。

  在全球所有达到基准规模的高级公司债中,这只债券的剩余期限最长。它正同时受到两方面冲击,一是市场担忧与人工智能相关的债券发行,二是在财政赤字和通胀忧虑再起之际,政府债券收益率普遍上升。由于其修正久期很长,收益率每上升1个百分点,这只债券的价格可能下跌近15便士。

  与此同时,裕信银行信贷策略师Michael Teig周四在一份报告中写道:“超大规模云服务商债券的信用利差近期扩大,再次引发投资者对其商业模式可行性的辩论,尤其是在这些公司资本支出规模庞大的背景下。”

  据数据,Alphabet及另一家超大规模云服务商亚马逊的长期债券周四在欧元投资级债券市场中跌幅居前。

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