ITEM 1.01. |
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
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On November 18, 2022,
Amazon.com, Inc. (the “Company”), JPMorgan Chase Bank, N.A., as
administrative agent, and the other lenders party thereto entered
into a 364-day revolving
credit agreement (the “Short-Term Credit Agreement”). The
Short-Term Credit Agreement provides the Company with an unsecured
revolving credit facility with a borrowing capacity of up to
$10.0 billion. The term of the Short-Term Credit Agreement is
364 days, but it may be extended for an additional period of 364
days.
The initial interest rate
applicable to outstanding balances under the Short-Term Credit
Agreement is the Secured Overnight Financing Rate plus 0.45%, with
a commitment fee of 0.05% on the undrawn portion of the credit
facility.
Borrowings under the Short-Term
Credit Agreement will be used for general corporate purposes,
including backstopping any notes that the Company may issue under
its commercial paper program.
The Short-Term Credit Agreement
contains customary representations and warranties, covenants, and
events of default, but does not contain financial covenants. Upon
an event of default that is not cured within applicable grace
periods or waived, any unpaid amounts under the Short-Term Credit
Agreement may be declared immediately due and payable and the
commitments may be terminated.
The financial institutions
party to the Short-Term Credit Agreement and their respective
affiliates are full service financial institutions engaged in
various activities, which may include sales and trading, commercial
and investment banking, advisory, investment management, investment
research, principal investment, hedging, market making, brokerage,
and other financial and non-financial activities and services.
Certain of these financial institutions and their respective
affiliates have provided, and may in the future provide, a variety
of these services to the Company and to persons and entities with
relationships with the Company, for which they received or will
receive customary fees and expenses.
The foregoing description of
the Short-Term Credit Agreement is qualified in its entirety by the
terms of such agreement, which is filed hereto as Exhibit 10.1 and
incorporated herein by reference.
ITEM 2.03. |
CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN
OFF-BALANCE SHEET
ARRANGEMENT OF A REGISTRANT.
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The information set forth in
Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference
into this Item 2.03.
ITEM 9.01. |
FINANCIAL STATEMENTS AND EXHIBITS.
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(d)
Exhibits.
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