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Amazon.com Inc. is making its debut in the euro bond market with a record eight-part sale, aiming to raise around €10 billion ($11.6 billion) to pay for investments in artificial intelligence.
The deal has maturities ranging from two to 38 years, according to people familiar with the matter, who asked not to be identified. It’s the first ever eight-part sale in the region, according to data compiled by Bloomberg, and follows Amazon’s 11-part dollar sale on Tuesday, which raised $37 billion.
The combined offering is set to be one of the biggest corporate bond sales ever and is the latest in a series of jumbo deals by cloud-computing companies as they pour money into AI infrastructure. Amazon — along with Alphabet Inc., Meta Platforms Inc. and Microsoft Corp. — have forecast capital expenditures of about $650 billion in 2026.
Utilizing two currencies and a range of tenors for the deal means that Amazon can tap into various investor bases and spread out its refinancing risk. The previous record for the number of tranches in Europe was a seven-part sale by LVMH Moët Hennessy Louis Vuitton SE in 2020 to finance its acquisition of Tiffany & Co.
The US portion of the deal drew about $126 billion of orders, one of the largest books ever for a corporate offering, according to people with direct knowledge of the matter. The offering was increased from initial guidance of $25 billion to $30 billion.
Bond sales restarted at a brisk pace globally on Tuesday after being stifled by surging credit risk in the wake of the conflict in the Middle East. Credit risk gauges pulled back after US President Donald Trump indicated that the war with Iran will end soon. The risk-on mood was tempered slightly on Wednesday after JPMorgan Chase & Co. was said to be restricting some lending to private credit funds.
Read: Amazon Deal Drives US Corporate Bond Sales to One-Day Record
Amazon’s deal comes a month after it said it would invest about $200 billion in data centers, chips and other equipment in 2026, topping analysts’ estimates and causing some concerns among equity investors about when huge spending on AI would start to pay off.
In the credit market, however, there’s huge appetite for hyperscaler deals. Alphabet Inc. raised roughly $32 billion in the US and European high-grade bond markets last month, drawing high demand throughout, and especially for an ultra-rare 100-year sterling note.
JPMorgan is acting as global coordinator for Amazon’s offering and is one of the bookrunners along with Barclays Plc, Bank of America Corp., and Societe Generale SA. The sale is expected to price later today.
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Published on March 11, 2026
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