Amazon.com Inc said on Tuesday it had reached an agreement with certain lenders to provide the e-commerce giant an $8 billion unsecured loan.
The logo of Amazon is seen at the company's logistics center in Bretigny-sur-Orge, near Paris, France, November 25, 2022. REUTERS/Benoit Tessiersaid on Tuesday it had reached an agreement with certain lenders to provide the e-commerce giant an $8 billion unsecured loan.
The term loan will mature in 364 days, with an option to extend for another 364 days and the proceeds would be used for general corporate purposes. "Given the uncertain macroeconomic environment, over the last few months we have used different financing options to support capital expenditures, debt repayments, acquisitions, and working capital needs," an Amazon spokesperson told Reuters in a statement., as soaring inflation forces businesses and consumers to cut back spending. That, coupled with a strong greenback, dragged Amazon's shares about 50% lower in 2022.
Toronto Dominion was the administrative agent for the loan agreement in which DBS Bank and Mizuho Bank were among lenders, AmazonReporting by Uday Sampath and Akash Sriram in Bengaluru; Editing by Shailesh Kuber, Devika Syamnath and Rashmi Aich
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