Project Manager News Hubb
Advertisement Banner
  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact
No Result
View All Result
  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Project Management

Amazon Secures $8 Billion Term Loan

admin by admin
January 4, 2023
in Project Management


Amazon.com Inc said on Tuesday it had reached an agreement with certain lenders to provide the e-commerce giant an $8 billion unsecured loan.

The term loan will mature in 364 days, with an option to extend for another 364 days and the proceeds would be used for general corporate purposes.

“Given the uncertain macroeconomic environment, over the last few months we have used different financing options to support capital expenditures, debt repayments, acquisitions, and working capital needs,” an Amazon spokesperson told Reuters in a statement.

The online retailer has been bracing for likely slower growth, as soaring inflation forces businesses and consumers to cut back spending. That, coupled with a strong greenback, dragged Amazon’s shares about 50% lower in 2022.

It had also flagged workforce reductions in early 2023, without specifying the number. A source told Reuters in November that the company was targeting about 10,000 job cuts.

Amazon had about $35 billion in cash and cash equivalents and long-term debt of about $59 billion at the end of the third quarter ended Sept. 30.

Toronto Dominion was the administrative agent for the loan agreement in which DBS Bank and Mizuho Bank were among lenders, Amazon said.

(Reporting by Uday Sampath and Akash Sriram in Bengaluru; Editing by Shailesh Kuber, Devika Syamnath and Rashmi Aich)



Source link

Previous Post

How to Make a Prototype: Product Prototyping Basics

Next Post

Weighing the Pros and Cons of Autocratic Decision Making

Next Post

Weighing the Pros and Cons of Autocratic Decision Making

Recommended

Four Questions For Every Project Manager

11 months ago

EDPR Brings Iberia’s First Wind-Solar Power Plant On-Stream

9 months ago

Younger Chinese Are Spurning Factory Jobs That Power The Economy

10 months ago

Rolls-Royce Says It Is Managing Inflation And Supply Chain Disruption

1 year ago

Clarifying Misconceptions of the Big Launch

1 year ago

The Definitive Guide to Project Success Criteria

4 months ago
project manager-59

© Project Manager News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact

© 2022 Project Manager News Hubb All rights reserved.