This article first appeared on GuruFocus.
Amazon (NASDAQ:AMZN) returned to the US investment-grade bond market with a large multi-tranche offering, targeting a bond sale of roughly $37 billion to $42 billion. The company is selling debt in as many as 11 tranches, with maturities ranging from 2 to 50 years, according to a person familiar with the matter.
According to Bloomberg, initial price discussions for the longest portion of the deal, a 2076 maturity, are set at roughly 155 basis points above US Treasuries. The bond sale is being arranged by HSBC (NYSE:HSBC), Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), and JPMorgan Chase (NYSE:JPM).
The deal follows Amazon’s $15 billion U.S. bond sale in November 2025 and comes as the company executes a $200 billion capital expenditure plan for 2026 for data centers, chips, and AI infrastructure. Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) raised approximately $32 billion in U.S. and European high-grade bond markets in February, including a rare 100-year bond. Oracle has also indicated it may raise $45 billion to $50 billion through debt and equity in 2026.
