Business
Amazon is borrowing $23.6 billion of more cash it doesn’t need – Sydney Morning Herald
Amazon.com is selling bonds to refinance debt and buy back stock, as cheap borrowing costs prove too tempting to resist even for a company with tens of billions…
The proceeds of Mondays offering will be for general corporate purposes, which may also include acquisitions and working capital. The two-year bond will be allocated for eligible green or social projects, which may include clean transportation, renewable energy and sustainable buildings, according to bond documents.
Moodys Investors Service upgraded Amazon one notch to A1, its fifth-highest investment-grade rating, with a stable outlook. While the new debt sale temporarily increases leverage, proceeds…
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