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Why Amazon’s seven-part bond deal is a bargain

Amazon.com Inc. on Tuesday officially launched a bond deal that could raise up to $16 billion to fund its planned $13.7 billion acquisition of Whole Foods Market Inc.

The launch came a day after ratings agency Moody’s Investors Service assigned the deal a Baa1 rating and revised Amazon’s credit outlook to positive from stable. S&P Global Ratings assigned the credit a higher rating of AA-minus last week.

Amazon did not specify how much it would raise in the deal, which is being underwritten by Bank of America Merrill Lynch, Goldman Sachs and J.P. Morgan Chase. But the deal will be split among seven maturities, including a 40-year tranche, according to research firm CreditSights.

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