Amazon has launched its first pound-denominated bond sale, split into four parts. According to Sina Finance, people familiar with the matter said the bonds have maturities ranging from three years to 19 years, with initial price discussions for the shortest tranche around 70 basis points above U.K. government bond yields and the longest tranche around 110 basis points above.

JPMorgan, Barclays, HSBC, and NatWest Group are managing the deal, which is expected to be priced later on Wednesday. This is Amazon's fourth debt sale outside the U.S. dollar market this year. In March, the company issued its first euro bonds in a record deal for corporate debt in that currency, later sold six tranches in the Swiss franc market at a record size, and completed the largest bond sale in the Canadian dollar market. Analysts Robert Schiffman and Suchi Trivedi said Amazon's first pound bond sale highlights a broader issue facing hyperscale cloud providers as AI investment drives repeated debt issuance.