Amazon Raises £4.25 Billion from First-Ever Sterling Bond Sale

Amazon has made its first-ever sterling bond sale, raising £4.25 billion ($5.76 billion) slightly more than initially expected. The deal is part of a trend where hyperscalers are selling bonds in markets outside the U.S., with over $200 billion in debt issued this year alone.

The four-part deal attracted final demand of more than £10.65 billion ($14.45 billion), which was slightly lower than the £12 billion ($16.28 billion) seen before lead banks tightened pricing. Amazon will raise £1.25 billion ($1.69 billion) from a three-year bond sale and £1 billion ($1.36 billion) each from six-, 12- and 19-year bonds.

The European Central Bank had warned earlier this month that hyperscalers' push into the eurozone bond market could crowd out other borrowers and increase their financing costs. Amazon's move highlights the broader question for hyperscalers: how much debt can investors absorb as AI investment drives repeated issuance?