Amazon joins Big Tech bond rush with $12bn debt sale
Ecommerce group’s first US bond in three years comes as it cranks up spending on artificial intelligence infrastructure
Amazon is seeking to raise $12bn in its first US bond sale in three years, becoming the latest big tech group to turn to debt markets to fund a spending spree on artificial intelligence infrastructure.
The Seattle-based ecommerce and cloud computing group launched the bond sale on Monday and is targeting approximately $12bn across about six investment-grade bonds, according to a person close to the deal.
Goldman Sachs, JPMorgan Chase and Morgan Stanley are managing the sale, according to regulatory filings.
Amazon said: “Like all companies, we regularly evaluate our operating plan and make financing decisions — like entering into a credit agreement or issuing bonds — accordingly. The proceeds from this issuance will be used to support business investments, fund future capital expenditures and repay upcoming debt maturities.”
https://www.ft.com/content/fc924871-e80f-46ea-aa8f-fe4ad5ce1c32
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