Amazon plans to issue its first pound-denominated bonds, with the launch as early as Wednesday.

Amazon (AMZN.US) has authorized banks to conduct its first sterling bond issuance, with trading expected to start as early as Wednesday. As mega-cap companies continue to raise debt globally to fund artificial intelligence development, sources say the issuance will be split into four tranches with maturities ranging from three to nineteen years, managed by JPMorgan, Barclays, HSBC, and NatWest Group. In March, Amazon issued euro-denominated bonds, setting a record for the largest corporate bond issuance in that currency, and subsequently entered the Swiss franc market with a record six tranches. Overall, Amazon is the largest bond issuer among mega-cap companies in 2026, having issued securities equivalent to more than $92 billion. Its total debt is also the highest among mega-cap companies, nearly double that of its closest rival, Microsoft. Amazon plans capital expenditures of $220 billion this year, with CEO Andy Jassy stating that the majority will be allocated to AI. Due to the scale and speed of such issuances, investors have begun to show signs of fatigue. Recent demand for sales has weakened, and wider pricing spreads have increased debt costs.