Citigroup Joins HSBC, Goldman Sachs on $42B Amazon Bond Sale
Citigroup is serving as one of four bookrunners on Amazon’s planned $37 billion to $42 billion multi-tranche bond offering, spanning 2-year to 50-year maturities. Initial pricing for the 2076 tranche is set at roughly 155 basis points over US Treasuries, with HSBC, Goldman Sachs, and JPMorgan Chase also involved.
1. Citigroup Among Bookrunners
Citigroup has been appointed as one of four lead arrangers for Amazon’s upcoming debt issue, joining HSBC, Goldman Sachs and JPMorgan Chase in managing the transaction.
2. Bond Offering Scale and Structure
The offering is expected to raise between $37 billion and $42 billion across up to 11 tranches, with the bulk coming from US-denominated bonds and approximately $10 billion raised via euro-denominated notes.
3. Pricing and Maturities
Initial price discussions for the longest tranche maturing in 2076 are around 155 basis points over US Treasuries, while shorter maturities stretching from two to 30 years will carry correspondingly tighter spreads.
4. Impact on Citigroup
This mandate could generate significant underwriting fees for Citigroup, bolstering its investment banking revenue in a quarter marked by strong demand in the debt capital markets.