Amazon hires banks for first ever sterling bond sale

LONDON, Sept 8 (Reuters) - ‌Amazon hired ​banks ​on Tuesday for its first ever sterling bond sale, according to a memo seen ‌by Reuters, as hyperscalers rush to raise ⁠funding across currencies to finance the AI boom.

The tech giant ‌is looking to sell ‌3-year, 6-year, 12-year and 19-year bonds, according to the memo from one of the banks arranging ​the sale.

The transaction may come as early as Wednesday, subject to market conditions, the ⁠memo added.

It did not specify how much money Amazon is looking to ​raise from the bonds.

Hyperscalers like Amazon are increasingly selling bonds across markets outside of ​the U.S. this year, from ‌euros to Swiss francs and the yen, as they seek to diversify ⁠their financing sources given huge funding needs for the AI transition.

The scale of their debt issuance is already ⁠testing the limits of investor demand, particularly in the U.S. ​dollar bond market, with some large bond buyers warning over the summer that the market is showing signs of ‌indigestion.

Amazon's sterling bond sale follows that of Google-parent Alphabet, which raised £5.5 billion ($7.44 billion) from ‌a five-part deal in the currency in February, ⁠which included a rare ‌100-year bond.

($1 = 0.7395 ​pounds)

(Reporting by Scott Murdoch, writing by Yoruk Bahceli; editing by Alun John and Amanda ‌Cooper)

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