Amazon Raises $5.76 Billion in First-Ever Sterling Bond Sale

Amazon is set to raise £4.25 billion ($5.76 billion) through its first-ever sterling-denominated bond sale, exceeding its initial target amid strong investor demand. The four-part offering attracted more than £12 billion in orders, highlighting robust appetite for debt from major technology companies as they seek funding to support massive investments in artificial intelligence.

The bonds comprise £1.25 billion of three-year notes and £1 billion each of six-, 12- and 19-year bonds. The securities will be priced at spreads of 53, 75, 90 and 93 basis points, respectively, over comparable UK government bonds. The transaction expands Amazon’s funding programme beyond the US, following previous bond sales in euros, Swiss francs and Canadian dollars.

Amazon’s move comes as hyperscalers accelerate borrowing across international markets to finance the AI boom. Technology giants have issued more than $200 billion of debt this year, more than double the total for all of 2025, according to LSEG data. Alphabet was the first major hyperscaler to enter the sterling market, raising £5.5 billion in February, while the European Central Bank has warned that the surge in technology-sector borrowing could crowd out other borrowers and increase financing costs.

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