The world's largest online retailer has reportedly settled on terms with undisclosed lenders for an $8 billion unsecured loan.
According to a Reuters article, the term loan has a maturity date of 364 days with an extension option of another 364 days, and the funds will be utilized for general company purposes.
An Amazon representative told Reuters, "Given the unpredictable macroeconomic climate, over the past several months we have employed numerous financing alternatives to fund capital expenditures, debt repayments, acquisitions, and working capital requirements."
After the third quarter, which ended on September 30th, Amazon had approximately $35 billion in cash and cash equivalents and approximately $59 billion in long-term debt.
After a historic selloff in the shares in late 2022, the e-commerce behemoth just became the first public firm in history to lose $1 trillion in market value, falling to a valuation of $879 billion from a high of $1.9 trillion in July 2021.
More than 10,000 workers in the company's business and technology departments were let go in November 2022.
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