Amazon (AMZN) Taps the UK Bond Market for the First Time. Here’s Why
TLDR
- Amazon has sold sterling bonds for the first time, adding British pounds to its funding mix alongside euros and Swiss francs.
- Initial price guidance ranged from 70 basis points over UK government bonds for three years to 110 basis points over for 19 years.
- Big tech companies have issued more than $200 billion in debt in 2026, more than double the total raised in all of 2025.
- Alphabet was the first hyperscaler to tap the sterling market in February, raising £5.5 billion including a 100-year bond.
- Amazon’s last bond sale in July raised $25 billion but drew weaker demand, raising questions about investor appetite.
Amazon made history on Wednesday by entering the British pound bond market for the first time, becoming the latest major tech company to spread its borrowing across global currencies.
The deal adds sterling to Amazon’s growing list of funding currencies, which already includes the euro and Swiss franc. Alphabet blazed the trail in February, raising £5.5 billion in a five-part sterling offering that included a rare 100-year bond.
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