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Friday, November 30, 2012 - Page updated at 03:30 p.m.
Amazon completes bond sale
By Amy Martinez
Seattle Times business reporter
Seattle-based Internet retailer Amazon.com said Thursday it completed a bond offering for $3 billion.
Amazon announced the offering Monday, saying proceeds will be used for general corporate purposes, including the $1.16 billion purchase of its leased Seattle headquarters.
Amazon, which held $5.2 billion in cash and marketable securities at the end of September, said it made a non-refundable deposit of $51 million and expects to finalize the deal in the fourth quarter.
Analysts say fast-growing Amazon is taking advantage of low borrowing costs to prop up its cash pile.
Amy Martinez: 206-464-2923 or firstname.lastname@example.org