On the heels of arranging a record $85 billion equity-raise for Alphabet Inc., Goldman Sachs Group Inc. has scored a lesser-known victory for the tech giant in the municipal bond market.
Prepaid energy deals are complicated transactions that allow utilities to lock in cheaper prices over long periods of time. They involve a financial middleman that receives bond proceeds in exchange for making regular payments needed to procure the energy for the utility.
Google parent Alphabet Inc.’s municipal-bond market debut was met by a surge of investor interest.
