Verizon Sets Bank Debt For $130B Vodafone Deal

Law360, New York (October 04, 2013, 2:43 PM ET) -- Verizon Communications Inc. has locked down $12 billion in debt from JPMorgan Chase Bank NA and others, loans that will join a recent record bond offering to help finance the $130 billion takeover of Verizon Wireless.

The financing, signed Oct. 1 and disclosed in a filing Friday, also includes a $2 billion revolving credit facility. The new debt, along with $49 billion in bonds raised last month and a forthcoming $60.2 billion stock issuance, will allow Verizon to buy out its joint venture partner, British telecom...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required