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Verizon raises USD 49 bln in bond offering
2013-09-12 09:11:00| Telecompaper Headlines
(Telecompaper) Verizon Communications has raised USD 49 billion in a bond issue to help finance its acquisition of Vodafone's stake in Verizon Wireless. The issue included USD 2.25 billion in floating-rate notes due 2016, USD 1.75 billion in floating-rate notes due 2018, USD 4.25 billion in 2.50 percent notes due 2016, USD 4.75 billion in 3.65 percent notes due 2018, USD 4.0 billion in 4.50 percent notes due 2020, USD 11.0 billion in 5.15 percent notes due 2023, USD 6.0 billion in 6.40 percent notes due 2033 and USD 15.0 billion in 6.55 percent notes due 2043. According to market reports, the issue saw strong demand, with an order book worth over USD 100 billion. This is thought to be the largest corporate bond offering on record. Verizon will pay in total USD 130 billion for the takeover, just under half of which in cash.
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Category:Telecommunications