Verizon Sets Bank Debt For $130B Vodafone Deal

Law360, New York (October 4, 2013, 2:43 PM EDT) -- 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...
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