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FINWIRES

Update: Amazon.com Mandates Banks for Debut Sterling Bond Sale

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(Updates with Amazon's response in the third paragraph.)

Amazon.com (AMZN) has hired banks for its first sterling bond offering that could launch as soon as Wednesday, Bloomberg News reported Tuesday, citing a person familiar with the matter.

The e-commerce giant intends to offer tranches ranging from three years to 19 years, the unnamed source told the news outlet, adding that JPMorgan Chase (JPM), Barclays (BCS), HSBC (HSBC), and Natwest Group (NWG) are managing the deal.

"We regularly evaluate our operating plan and make financing decisions, like issuing bonds, accordingly," an Amazon spokesperson toldin an e-mail statement. "The proceeds from this issuance will be used for general corporate purposes, which may include, but are not limited to, supporting business investments, funding future capital expenditures, and repaying upcoming debt maturities."

What else is happening in Treasury?

Treasury

The Codi to Raise KRW30 Billion via Private Convertible Bond Issuance

The Codi (KOSDAQ:A224060) has approved a 30 billion won private convertible bond issue, with proceeds earmarked for future acquisitions and business diversification.The bonds carry a 3% coupon rate and 4% yield to maturity, mature on Oct. 6, 2029, and include a put option allowing early redemption starting October 2027, according to a bourse filing on Tuesday.The conversion price is set at 3,550 won per share, with the conversion period running from October 2027 to September 2029, potentially diluting existing shareholders by approximately 164% if fully converted.The bonds will be privately placed with Goldmark Union and Horizon Union, both selected for their funding capacity, and are subject to a one-year lock-up on conversion and face-value division.Proceeds will be allocated to acquiring securities of other corporations, with specific targets and terms to be disclosed upon finalization through a separate regulatory filing.

KOSDAQ:A224060
Treasury

India's REC Issues INR5 Billion in Tokenized Corporate Bonds

Indian state-owned power sector financier REC (BOM:532955, NSE:RECLTD) issued 5 billion rupees in tokenized corporate bonds under the Securities and Exchange Board of India's regulatory sandbox framework, according to a Monday exchange filing.The offering received bids worth about 7.96 billion rupees, making it roughly eight times oversubscribed.REC accepted 5 billion rupees at a coupon rate of 7.30% per annum for a tenor of one year and nine months. The bonds were allotted, settled and listed on NSE and BSE on the same day.Top lenders HDFC Bank (NSE:HDFCBANK, BOM:532174) and ICICI Bank (BOM:532174, NSE:ICICIBANK) are among the buyers of REC's tokenized bonds, Bloomberg News reported separately, citing people familiar with the matter.The buyers also included private lenders Axis Bank (NSE:AXISBANK, BOM:532215) and Yes Bank (BOM:532648, NSE:YESBANK), as well as AK Capital Services, ICICI Securities Primary Dealership, Taurus Group and Trust Investment Advisors, according to the report.The lenders did not immediately respond to' request for comment.

BOM:500180BOM:532174BOM:532215BOM:532648BOM:532955NSE:AXISBANKNSE:HDFCBANKNSE:ICICIBANKNSE:RECLTDNSE:YESBANK
Treasury

Sparebanken Møre Issues NOK1.5 Billion Bond

Sparebanken Møre (MORG.OL) issued Monday a new 1.50 billion-Norwegian-krone senior unsecured bond, with settlement scheduled on Friday.The three-year bond with a coupon of three-month Norwegian Interbank Offered Rate plus 32 basis points will be listed on Nordic ABM.DNB Carnegie and Nordea served as joint arrangers for the transaction.

$MORG.OL