Amazon Priced £4.25 Billion Sterling Bond Issue with Annual Interest of £249.5 Million

Amazon has successfully priced its £4.25 billion sterling bond issue in four parts, creating annual cash interest of £249.5 million before fees and currency effects.

The September 11 prospectus sets maturities from 2029 to 2045, with delivery expected on September 14, at a £1=$1.353 exchange rate recorded near Friday's U.S. close.

The principal was worth about $5.75 billion and the annual coupons about $337.6 million, but the debt and interest are payable in pounds.

The issue divides the borrowing across one short, one intermediate, and two longer-dated tranches.