Amazon.com, Inc. Enters into 364-Day Revolving Credit Agreement
November 19, 2022 at 03:06 am IST
Share
On November 18, 2022, Amazon.com, Inc. (the Company"), JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto entered into a 364-day revolving credit agreement (the Short-Term Credit Agreement"). The Short-Term Credit Agreement provides the Company with an unsecured revolving credit facility with a borrowing capacity of up to $10.0 billion. The term of the Short-Term Credit Agreement is 364 days, but it may be extended for an additional period of 364 days. The initial interest rate applicable to outstanding balances under the Short-Term Credit Agreement is the Secured Overnight Financing Rate plus 0.45%, with a commitment fee of 0.05% on the undrawn portion of the credit facility. Borrowings under the Short-Term Credit Agreement will be used for general corporate purposes, including
backstopping any notes that the Company may issue under its commercial paper program.
Amazon.com, Inc. is one of the world leaders in on-line distribution of products to the general public. The group also operates a marketplace activity, allowing individuals and distribution companies to conduct their purchase and selling transactions for goods and services. The activity is organized around three families of products and services:
- electronic and computer products: toys, cameras, computers, laptops and peripherals, TVs, stereo systems, readers, wireless communication products, etc. Amazon.com also offers kitchen and garden equipment, clothing, beauty products, etc.;
- cultural products: books, musical products, video games and DVDs;
- other: primarily Internet interface and application development services.
Net sales break down by source of income between sales of services (55.5%) and sales of products (44.5%).
Net sales are distributed geographically as follows: the United States (68.8%), Germany (6.5%), the United Kingdom (5.9%), Japan (4.5%), and other (14.3%).