Amazon is tapping the corporate bond market with plans to raise $25 billion, joining a growing wave of tech giants loading up on debt to fund their artificial intelligence ambitions. The offering, initially guided at $25 billion to $30 billion in US high-grade bonds, ultimately priced at $37 billion in USD alone after investor demand came in far hotter than expected.
A bond sale that kept getting bigger
What started as a $25 billion target ballooned into something much larger. The final USD pricing landed at $37 billion, making it one of the largest corporate bond sales in history.
The offering is structured as a multi-tranche, multi-currency deal that includes a euro-denominated leg. When you combine both components, the total issuance could approach $50 billion.
The approximately $126 billion in orders for just the USD portion signals extraordinary appetite for high-grade tech credit right now.
