Amazon sells its first sterling bonds, taking 2026 borrowing past $92bn

Amazon issued a four-tranche sterling bond series—three, six, 12 and 19-year maturities—priced at 70 bp, 90 bp, 105 bp and about 110 bp over gilts respectively. The sale adds a fourth currency to its 2026 borrowing programme, which has already raised over $92 billion across euro, Swiss-franc and Canadian-dollar issuances, making Amazon the largest bond issuer among hyperscalers. The 19-year tranche tests investor appetite for financing AI-related capital needs beyond typical asset lifespans.