Amazon starts selling first sterling bonds, lead managers say

LONDON, Sept 8 (Reuters) - Amazon AMZN.O started selling sterling bonds for the first time on Wednesday, according to three of the banks managing the deal, as hyperscalers rush to raise funding across currencies to finance the AI boom.

It set initial price guidance on the deal at around 70 basis points over British government bonds on a 3-year bond, around 90 basis points over for a 6-year bond, around 105 basis points over for a 12-year bond and around 110 basis points over for a 19-year bond, according to a memo sent by the banks.

The deal will price later on Wednesday, the memo said.

Hyperscalers like Amazon are increasingly selling bonds across markets outside of the U.S. this year, from euros to Swiss francs and the yen, as they seek to diversify their financing sources given huge funding needs for the AI transition.