Amazon secures $8 billion term loan – Reuters.com

Jan 3 (Reuters) – Amazon.com Inc (AMZN.O) said on Tuesday it had reached an agreement with certain lenders to provide the e-commerce giant an $8 billion unsecured loan.
The term loan will mature in 364 days, with an option to extend for another 364 days and the proceeds would be used for general corporate purposes.
"Given the uncertain macroeconomic environment, over the last few months we have used different financing options to support capital expenditures, debt repayments, acquisitions, and working capital needs," an Amazon spokesperson told Reuters in a statement.
The online retailer has been bracing for likely slower growth, as soaring inflation forces businesses and consumers to cut back spending. That, coupled with a strong greenback, dragged Amazon's shares about 50% lower in 2022.
It had also flagged workforce reductions in early 2023, without specifying the number. A source told Reuters in November that the company was targeting about 10,000 job cuts.
Amazon had about $35 billion in cash and cash equivalents and long-term debt of about $59 billion at the end of the third quarter ended Sept. 30.
Toronto Dominion was the administrative agent for the loan agreement in which DBS Bank and Mizuho Bank were among lenders, Amazon said.
Our Standards: The Thomson Reuters Trust Principles.
A number of KFC franchisees in Russia have asked the government to stop the sale of the Yum! Brands restaurant business to the local operator, the RIA news agency said, citing Russia's restaurant market commissioner.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2022 Reuters. All rights reserved

source