Amazon issued US$25 billion in debt in July, making it the most active corporate issuer of the month.
The company reported US$27.5 billion in operating income in its Q2 results, up 43% year-on-year.
The US dollar-denominated fixed-rate notes have been issued in multiple tranches, with maturities between 2029 and 2066. Stated interest rates are between 4.60% and 6.25%.
The first to mature will be US$750 million due 2029, with an interest rate of the compounded SOFR plus 0.58%.
Proceeds from the notes will be used for general corporate purposes.
Fitch Ratings assigned the notes AA- with a stable outlook. Moody’s published a report
In Amazon’s Q2 results call, chief financial officer Brian Olsavsky responded to questions about capex buildouts stating: “You’ve seen us issue debt this year. We have a lot of options available to us as we continue to fund this growth that we’re seeing in AWS. We’ll continue to look at all the options and make the appropriate decision at the right time.”
Last week, Meta announced that it was issuing debt through a special purpose vehicle to finance its Texas data centre project.
READ MORE: Meta taps BlackRock for latest giant data centre
Amazon has seen its notional debt increase by US$90.48 billion in the last year, and is now valued at US$140.73 billion. Weighted average spreads have widened significantly in that time, from 38.1 bps to 76.8 bps.
©Markets Media Europe 2026
