Amazon takes $17.5 billion loan as AI spending pushes debt past $225 billion

Amazon agreed to a $17.5 billion delayed-draw term loan led by Citigroup, with JPMorgan Chase, Bank of America, HSBC, and Wells Fargo among more than a dozen banks in the syndicate, The Next Web reported. The cash is available through the end of September, and each draw carries a three-year repayment window. Amazon's total short- and long-term debt, including lease payments, exceeded $225 billion as of 31 March, up from closer to $150 billion a year earlier. The loan follows a C$14 billion ($10 billion) Canadian dollar bond sale, the largest corporate bond sale on record in that currency, plus bond sales in euros, US dollars, and Swiss francs since March. The company has said it plans approximately $200 billion in capital expenditure in 2026, mainly on new data centres and chips. The interest rate on the unsecured loan ranges from 0.625 to 0.875 percentage points above SOFR, depending on Amazon's credit rating.