Amazon offers investment-grade bonds in its first note sale in a year

Amazon is offering investment-grade bonds for general corporate purposes that may include repaying debt as well as funding acquisitions and share buybacks in its first note sale in about a year.Amazon is offering investment-grade bonds for general corporate purposes that may include repaying debt as well as funding acquisitions and share buybacks in its first note sale in about a year.

Amazon last tapped the US debt market when it sold $18.5bn of bonds in May, also for general corporate purposes that included possible refinancing of debt and share repurchases. The 40-year security on that deal priced to yield 95 basis points over Treasuries. In February, Amazon wowed Wall Street with a strong earnings report. While online store sales actually declined from last year’s pandemic-fuelled gains, the company’s profitable cloud-computing and advertising businesses combined to more than make up for it.

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