Amazon, the international online powerhouse started by CEO Jeff Bezos more than twenty years ago has recently taken part in a massive deal with the Department of Treasury. According to reports, the conglomerate recently sold nearly $13 billion dollars in investment-grade bonds as part of a 7 part sale. The purpose of the sale which can include a share buyback program,debt obligation repayments, or other corporate purchases, is one of many that has been made by the Blue Origin owner over the decades.
Previously, the company made a sale of over $18 billion in treasury bonds just nine short months ago. Currently, the interest rates on the T-bond sits at roughly 1.55 percentage points, which is steadily growing higher with some of the highest rates of inflation in the past forty years. In addition to the current sell off, Amazon still retains a credit line of $50 billion dollars in usable bonds,putting it in the ranks of Apple and Microsoft, as far as debt ratings according to analysts with Bloomberg Intelligence. The move comes on the heels of a multi-billion dollar share buyback as well as a stock split announced to the public merely 30 days ago. Profits for the company stand at an estimated $117 billion, as they continue the race to remain amongst the world’s top trillion dollar brands.
