Amazon gets $8 billion unsecured loan agreement
Business
Company used various options to support expenditures, repayments, acquisitions and working capital
(Reuters) Amazon has secured an agreement for $8 billion unsecured loan with certain lenders.
The tech giant’s spokesperson has told Reuters that the company had used various financing options to support capital expenditures, debt repayments, acquisitions and working capital needs.
The loan will mature in 364 days while there will also be an option to extend for another 364 days.
During the year 2022 the US dollar had dragged Amazon’s shares around 50 percent and workforce reductions were flagged by the tech giant in early 2023 but the numbers for reductions were not given. However, Reuters has stated that the number of targeted reduction could amount around 10,000 job cuts.
At the end of the third quarter, ended on September 30, Amazon had about $35 billion cash and equivalents while long term debt amounted to around $59 billion.
