Amazon raised $10 billion in the bond markets
Published : Tuesday, 2 June, 2020 at 11:31 PM Count : 185
Amazon benefited from the cheapest orbital spending in the U.S. corporate bond market on Monday, the Financial Times reported.
After a major turning point for a company whose bonds were considered rubbish in 2009, Amazon raised bond 10 billion in bonds at a very low rate, including a new three-year debt with an interest rate of only 0.4%.
According to the bond information website Cords, the total issuance of three-year bonds was one billion dollars.
Amazon's new interest rates in 2012 and 2013 were 0.45% lower than the previous record-low secured by some companies like Apple, IBM and Walt Disney.
The FT said the company's 10 10 billion offer was submitted more than three times, citing unnamed sources. The magazine added that Amazon said the money would be used "for general corporate purposes".
E-commerce giant Tapped Bond Markets last issued three-year bonds in 2017 at an interest rate of 1.9%, the FT said. At this point it was raising money to buy whole food.
Amazon has emerged as the biggest winner during the growing business climate of the coronavirus epidemic, as consumers looked to e-commerce retailers for general customers and essentials.
In April, Amazon reported 26% revenue growth in its first-quarter financial system to 75 75.5 billion, but the company's costs increased due to additional security measures and increased wages for warehouse employees.-Internet