Amazon gets $15 billion five-year revolver, $5 billion 364-day revolver

By Wendy Van Sickle

Columbus, Ohio, Nov. 1 – Amazon.com, Inc. entered into a $15 billion five-year revolving credit agreement and a $5 billion 364-day revolver on Wednesday, both with Citibank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The five-year revolver may be extended on one or more occasions by additional one-year terms. It replaces the prior $10 billion revolver with JPMorgan Chase Bank, NA as agent that was entered on March 29, 2022 and was terminated on Nov. 1.

The 364-day revolver may be extended for an additional 364 days and replaces the $10 billion 364-day revolver with JPMorgan as agent that was entered on Nov. 18, 2022 and was terminated on Nov. 1.

Borrowings under each revolver bear interest at SOFR plus 45 basis points, and there is a commitment fee of 3 bps on unused commitments.

Citibank, BofA Securities, Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., JPMorgan and Wells Fargo Securities, LLC are the joint bookrunners.

Citibank is syndication agent and is a co-documentation agent along with BofA, Deutsche, HSBC, JPMorgan, Wells Fargo Bank, NA, Barclays Bank plc, BNP Paribas, Goldman Sachs Bank USA, Morgan Stanley Senior Funding, Inc., Royal Bank of Canada, Societe Generale, TD Securities (USA) LLC and Bank of Nova Scotia.

Proceeds may be used for working capital, to refinance existing debt and for general corporate purposes.

Amazon.com is an online retailer based in Seattle.

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