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Published on 11/27/2012 in the Prospect News Investment Grade Daily.

Midday Commentary: Amazon.com three-tranche offering trades weaker in secondary market

By Aleesia Forni

Columbus, Ohio, Nov. 27 - All three tranches of Monday's issuance from Amazon.com, Inc. were weaker early during Tuesday's session, a trader said.

The $750 million tranche of 0.65% three-year notes was 1 basis point wider at 39 bps bid, 37 bps offered following Monday's pricing with a spread of Treasuries plus 38 bps.

Meanwhile, the $1 billion of 1.2% five-year notes also widened 1 bp to a spread of 64 bps bid, 60 bps offered.

The notes were sold at a spread of 63 bps over Treasuries.

The $1.25 billion tranche of 2.5% 10-year notes was quoted at 94 bps bid, 93 bps offered. The notes due 2022 priced at 93 bps over Treasuries.

The online retailer is based in Seattle.


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