Amazon Seeks To Raise $7B Via 2022's Second Bond Offering

Amazon.Com, Inc AMZN looked to sell investment-grade bonds for general corporate purposes, its second offering in the dollar market this year.
Amazon issued senior unsecured bonds in up to five parts, Bloomberg reports.
The most extended portion of the offering, a 10-year security, may yield 1.15 percentage points over Treasuries.
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The target size of the offering is $7 billion.
Amazon may use the offering proceeds to repay debt, fund acquisitions, and share buybacks.
Amazon last sold bonds in April, raising $12.75 billion, the company’s first offering in about a year.
Amazon is among ten companies looking to sell the debt on Tuesday ahead of anticipated volatility over the next few days.
The sale also comes as credit fundamentals create an optimistic backdrop for issuing debt.
Amazon’s total debt load now exceeds $70 billion.
Amazon held $58.9 billion in long-term debt and $58.7 billion in cash and equivalents as of September 30.
Price action: AMZN shares traded lower by 2.21% at $91.69 on the last check Tuesday.