AMAZON COM INC (AMZN): debt financing — Amazon enters new $15B five-year and $5B 364-day revolving credit facilities, replacing prior $10B facilities

AMAZON COM INC

New $15B five-year unsecured revolving credit facility replaces $10B facility from March 2022.
New $5B 364-day unsecured revolving credit facility replaces $10B facility from November 2022.
Interest rate: benchmark plus 0.45%; commitment fee 0.03% on undrawn portion.
No financial covenants; proceeds for general corporate purposes and backstopping commercial paper.
Citibank N.A. is administrative agent; JPMorgan Chase replaced as prior agent.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AMAZON COM INC incurred revolving credit of up to $15.0 billion with Citibank N.A., as administrative agent at applicable benchmark rate specified in the agreement plus 0.45%, with a commitme maturing five years.

Instrument: revolving credit
Principal: up to $15.0 billion
Counterparty: Citibank N.A., as administrative agent
Rate: applicable benchmark rate specified in the agreement plus 0.45%, with a commitme
Maturity: five years
Event: incurrence

Exact text from the filing

The Credit Agreement provides the Company with an unsecured revolving credit facility with a borrowing capacity of up to $15.0 billion.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AMAZON COM INC incurred revolving credit of up to $5.0 billion with Citibank N.A., as administrative agent at applicable benchmark rate specified in the agreement plus 0.45%, with a commitme maturing 364 days.

Instrument: revolving credit
Principal: up to $5.0 billion
Counterparty: Citibank N.A., as administrative agent
Rate: applicable benchmark rate specified in the agreement plus 0.45%, with a commitme
Maturity: 364 days
Event: incurrence

Exact text from the filing

The Short-Term Credit Agreement provides the Company with an unsecured revolving credit facility with a borrowing capacity of up to $5.0 billion.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

AMAZON COM INC entered into Five-Year Revolving Credit Agreement with Citibank N.A. valued at unsecured revolving credit facility with a borrowing capacity of up to $15.0 billion (effective 2023-11-01).

Action: entry
Agreement: credit facility
Counterparty: Citibank N.A.
Value: unsecured revolving credit facility with a borrowing capacity of up to $15.0 billion
Effective: 2023-11-01

Exact text from the filing

On November 1, 2023, Amazon.com, Inc. (the “Company”), Citibank N.A., as administrative agent, and the lenders party thereto entered into a five-year revolving credit agreement (the “Credit Agreement”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

AMAZON COM INC entered into 364-Day Revolving Credit Agreement with Citibank N.A. valued at unsecured revolving credit facility with a borrowing capacity of up to $5.0 billion (effective 2023-11-01).

Action: entry
Agreement: credit facility
Counterparty: Citibank N.A.
Value: unsecured revolving credit facility with a borrowing capacity of up to $5.0 billion
Effective: 2023-11-01

Exact text from the filing

on November 1, 2023, the Company, Citibank N.A., as administrative agent, and the lenders party thereto entered into a 364-day revolving credit agreement (the “Short-Term Credit Agreement”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

AMAZON COM INC terminated Amended and Restated Credit Agreement ($10.0 billion) with JPMorgan Chase Bank, N.A. valued at terminated on November 1, 2023 (effective 2023-11-01).

Action: termination
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: terminated on November 1, 2023
Effective: 2023-11-01

Exact text from the filing

The Credit Agreement replaces the prior $10.0 billion amended and restated credit agreement entered into by the Company, JPMorgan Chase Bank, N.A., and other lenders on March 29, 2022, which was terminated on November 1, 2023.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

AMAZON COM INC terminated 364-Day Revolving Credit Agreement ($10.0 billion) with JPMorgan Chase Bank, N.A. valued at terminated on November 1, 2023 (effective 2023-11-01).

Action: termination
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: terminated on November 1, 2023
Effective: 2023-11-01

Exact text from the filing

The Short-Term Credit Agreement replaces the prior $10.0 billion 364-day revolving credit agreement entered into by the Company, JPMorgan Chase Bank, N.A., and other lenders on November 18, 2022, which was terminated on November 1, 2023.

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-23-113444

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