Amazon takes on $17.5 billion in new debt as AI spending pushes total borrowing past $225 billion
TL;DR
Amazon agreed to a $17.5B loan led by Citigroup. Total debt is now over $225B, up 50% in a year. The money funds a $200B AI capex plan and equity stakes.
Amazon has agreed to a $17.5 billion delayed-draw term loan led by Citigroup, the latest in a borrowing spree fuelled by its race to build AI infrastructure. The cash is available through the end of September. Each draw has a three-year repayment window. JPMorgan Chase, Bank of America, HSBC, and Wells Fargo are among more than a dozen banks in the syndicate.
The loan comes days after Amazon sold C$14 billion ($10 billion) in Canadian dollar bonds, the largest corporate bond sale on record in that currency. Since March, the company has also sold bonds in euros, US dollars, and Swiss francs. As of 31 March, Amazon’s total short- and long-term debt, including lease payments, exceeded...
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