Amazon raises $14 billion in record-breaking Canadian maple bond offering
By
Jameson Berkow
The bagel they save for the regulars. Don't skim, savour.
Summary
Amazon is raising $14 billion through a Canadian dollar-denominated corporate bond offering (maple bonds), breaking the record set by Alphabet Inc. just one month prior. The offering is split into five tranches with maturities from 3 to 30 years, and is nearly double the size of the previous record-holder. This continues a record-breaking year for the maple bond market as foreign companies increasingly tap Canadian investors.
Key quotes
· 3 pulledAmazon is selling $14-billion worth of maple bonds, the term for loonie-denominated bonds issued by foreign companies, broken into five pieces with maturities ranging from three to 30 years.
The issuance is nearly two-thirds larger than the $8.5-billion, four-part offering sold by Alphabet in mid-May and nearly double the $7.15-billion bond deal raised by Coastal Gas
The maple bond market continues its record-breaking year, as foreign companies tap Canadian investors
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