Amazon sold $25 billion dollars of bonds across eight tranches with maturities ranging from 3 to 40 years. And initially, the orders reached approximately 62 billion, but after the banks managing the offering reduced the spreads offered to investors, orders fell to roughly 41 billion. That left demand at only slightly more than one and a half times the amount of bonds available.

Amazon also had to provide an elevated new issue concession with some of its longest bonds reportedly offering an additional 18 to 21 basis points relative to comparable existing debt.