by Nate Wooley | November 27, 2012 12:55 pm
The world’s largest online retailer, Amazon (NASDAQ:AMZN), has sold corporate bonds for the first time in more than 10 years.
The bonds, which are for “general corporate purposes,” have rates ranging from 0.65% for a three-year note to 2.5% on 10-year issues. Overall, the e-commerce giant raised $3 billion through the bonds, reports International Business Times.
Analysts are speculating that the bonds may help finance acquisitions. While Amazon has more than $5 billion in cash on hand, the extra money may be handy for making deals. Rumors have swirled that the firm is interested in BlackBerry maker Research In Motion (NASDAQ:RIMM) or chipmaker Texas Instruments (NASDAQ:TXN).
The bonds were sold via investment bankers Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS). Moody’s has rated the bonds Baa1, citing Amazon’s recent operating losses.
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