By Jill Goldsmith Amazon said Wednesday it closed the sale of $10 billion worth of fresh debt at record low interest rates.
It sold six tranches of notes of between $1 billion and $2.5 billion with maturities of up to 50 years. Proceeds will be used for general corporate purposes, which could include paying down other debt, stock buybacks, acquisitions, capital expenditures or other uses.
Companies have been raising cash at a rapid pace to amass a cushion to see them through the COVID-19 crisis and more recently to refinance old debt.
The interest rates they need to offer depend on their credit rating and how many investors want the bonds. With months of shelter-at-home directives, Amazon has become a favorite stock, the belle of the
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