Amazon.com, Inc. announced today the closing of a substantial debt offering totaling approximately $14.96 billion in aggregate principal amount. The offering comprised six series of senior unsecured notes, with maturities ranging from 2028 to 2065. The net proceeds – after underwriting discounts and before offering expenses – are estimated at approximately $14.93 billion.
The notes issued include: $2.5 billion of 3.900 % Notes due 2028, $2.5 billion of 4.100 % Notes due 2030, $1.5 billion of 4.350 % Notes due 2033, $3.5 billion of 4.650 % Notes due 2035, $3.0 billion of 5.450 % Notes due 2055, and $2.0 billion of 5.550 % Notes due 2065. The offering was underwritten pursuant to an Underwriting Agreement dated November 17, 2025, with Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC serving as the managing underwriters.
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The notes were issued under an Indenture initially dated November 29, 2012, as amended and supplemented by a Supplemental Indenture dated April 13, 2022, under which all series of the current offering will be governed. The series terms include interest payment dates of May 20 and November 20 each year for the 2028, 2030, 2035, 2055 and 2065 Notes, beginning May 20, 2026; for the 2033 Notes, interest payment dates are March 20 and September 20 each year, beginning March 20, 2026. The purchase prices of each series were set at slight discounts to par: for example, the 3.900 % Notes due 2028 were purchased at 99.878 % of principal, the 4.100 % Notes due 2030 at 99.773 %, and the 5.550 % Notes due 2065 at 99.074 %.
From a corporate‑finance perspective, the size, structure and yield spread of the offering reflect Amazon’s strategy to lock in long‑term funding at current interest‑rate levels. By issuing across six maturity dates, Amazon has diversified its debt load over time, presumably offering some flexibility in managing interest and refinancing risk.
For investors and market watchers, such multi‑tranche issues often signal confidence in the issuer’s credit quality and a proactive funding posture in a macro‑environment where interest rates remain elevated compared with historical lows.
For general readers, it is helpful to note that when a company issues bonds (or “notes”), it is borrowing money from investors and agreeing to pay them a fixed interest rate (coupon) until repayment at maturity; the fact that the bonds were issued at slightly below “100” means Amazon accepted a small discount to raise the desired principal amount.
In this case there is no indication from the filing that the proceeds will be earmarked for a specific project or acquisition. The absence of specific earmarking suggests the proceeds may be used for general corporate purposes, which could include refinancing existing debt, capital expenditures, or working‑capital needs. The firm disclosed that no material adverse change in its financial or operational condition has occurred from the time of the prospectus to the closing date.
Company Profile
Amazon.com, Inc. is a leading global e‑commerce and cloud‑computing company headquartered in Seattle, Washington. Classified in the retail‑catalog & mail‑order houses industrial category, Amazon was incorporated in Delaware and listed on the Nasdaq Global Select Market under ticker symbol AMZN. The company generates revenue primarily from online product sales, subscription services (including its Prime membership), and its cloud‑computing arm (Amazon Web Services), among other business segments.
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