Amazon.com Inc. is selling bonds to refinance debt and buy back stock in its first offering in nearly a year.
The online retail giant is issuing debt in eight parts, according to a person with knowledge of the matter.
The longest portion, a 40-year security, may yield around 115 basis points over Treasuries.
Amazon has been a fairly infrequent issuer, but it comes in big on those rare occasions. It last tapped the bond market in June 2020, borrowing $10 billion for general corporate purposes.
Prior to that, it sold $16 billion of bonds in 2017 to help finance its acquisition of Whole Foods Market Inc.
The proceeds of Monday’s offering will be for general corporate purposes, which may also include acquisitions and working capital, said the person.
The two-year bond will be allocated for eligible green or social projects.
Citigroup Inc., JPMorgan Chase & Co., Morgan Stanley and Wells Fargo & Co. are managing the sale.