Verizon Sets Record With $49B In Bonds For Vodafone Deal

Law360, New York (September 11, 2013, 6:31 PM EDT) -- Verizon Communications Inc. on Wednesday announced the debt piece for its $130 billion wireless deal, a $49 billion bond offering that dwarfs competition and easily becomes the largest corporate debt deal of all time.

The issuance comes in eight series of notes, maturing between 2016 and 2043. Yields on the $45 billion in fixed-rate notes escalates from 2.5 percent to 6.5 percent. Two series of floating-rate notes, one three-year and one five-year, are priced at Libor plus 1.53 percent and 1.75 percent, respectively. In addition to...
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