Alphabet is planning its first bond sale denominated in Hong Kong dollars and Singapore dollars, according to a term sheet. According to Sina Finance, the company has appointed HSBC and JPMorgan as joint global coordinators for a potential dual-currency offering of fixed-rate senior unsecured notes.

If issued, the bonds are expected to be rated Aa2 by Moody’s and AA+ by S&P, in line with Alphabet’s issuer ratings. The Hong Kong dollar tranche may include two-, five- and 10-year senior unsecured fixed-rate notes, subject to market conditions. The issuance would mark Alphabet’s first bonds denominated in Hong Kong dollars and Singapore dollars.

Alphabet, Google’s parent company, operates Google Search, YouTube, Android, Chrome and Google Cloud. It is one of the world’s highest-rated corporate borrowers and a frequent issuer in the U.S. dollar bond market.