Amazon raised $10 billion in the bond markets, including $1 billion of debt yielding just 0.4% — reportedly the lowest rate in the history of US corporate bonds
during the worsening business climate of the coronavirus pandemic, as consumers looked to e-commerce retailers for general shopping and essentials.in its first-quarter financials to $75.5 billion, but its costs increased as the company had to implement additional safety measures and hike pay for warehouse employees. A $1 billion bond for three years, yielding 0.4%.A $1.25 billion bond for seven years, yielding 1.2%.A $2.5 billion bond for 40 years, yielding 2.7%.
The bonds were underwritten by a variety of banks, according to Cbonds, including JP Morgan, Goldman Sachs, Deutsche Bank, HSBC, Citigroup, Morgan Stanley, Societe Generale, TD Securities, and Wells Fargo. Amazon did not immediately respond to a request for comment from Markets Insider on the debt issuance.Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please emailfrom Business Insider Intelligence on how COVID-19 is affecting industries.
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