---
title: "Amazon starts first sterling bond sale after $25 billion dollar deal drew weaker demand"
url: "https://etf.net/news/amazon-starts-first-sterling-bond-sale-after-25-billion-dollar-deal-drew-weaker-demand-2026-09-09"
published_at: "2026-09-09T12:10:41.926Z"
updated_at: "2026-09-09T12:10:41.926Z"
byline: "ETF.net Research"
---

# Amazon starts first sterling bond sale after $25 billion dollar deal drew weaker demand

Amazon opened books Wednesday, September 9, 2026, on its first sterling bonds, at least £3 billion, after a $25 billion dollar sale in July drew weaker demand.

By ETF.net Research. Published Sep 9, 2026.

Amazon, the e-commerce and cloud company, began selling pound bonds for the first time on Wednesday, the banks running the deal told Reuters, adding sterling as a fourth new currency this year after euro, Swiss-franc and Canadian-dollar debuts. Hyperscalers, the large cloud companies building AI data centers, have issued more than **$200 billion** of debt in 2026, more than double 2025, and have also been selling yen, Reuters said.

Those earlier sales included a record **€14.5 billion** debut in March, 2.82 billion Swiss francs in May and C$14 billion, about $10 billion, of Canadian-dollar notes in June. It is Amazon’s first bond sale since a **$25 billion** dollar offering in July that, Reuters said, drew weaker demand than past deals. Bloomberg reported the company is raising at least **£3 billion**. Initial guidance on the four parts, maturing in three, six, 12 and 19 years, was about 70, 90, 105 and 110 basis points over UK government bonds, or gilts, Reuters reported from a memo sent by three of the banks. The notes are due to price later Wednesday. Bloomberg named JPMorgan Chase, Barclays, HSBC and NatWest as managers. Alphabet raised £5.5 billion of sterling bonds in February, including a 100-year tranche, so Amazon’s 19-year piece is long for a corporate, not a first test of UK demand for ultra-long US tech paper.

The new notes sit outside the dollar indexes most US credit-fund holders own. In Vanguard’s intermediate-term investment-grade corporate bond fund VCIT, which grades A under etf.net’s published method, an Amazon 4.88% note due 2036 was the largest holding as of Tuesday, at **0.29%** of **$69.8 billion** in assets. Sterling paper will land in non-dollar index funds most of those holders do not own. State Street’s international investment-grade corporate fund IBND, which grades D under that method, charges 0.50% and has $459 million in assets. For holders of the big US dollar credit funds, Wednesday’s sale is a new currency for Amazon, not a new line in the portfolio, and there is nothing for those holders to do on the launch.

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