Verizon's jumbo $25 billion multi-tranche bond offering could be upsized because of strong investor demand, sources said on Tuesday. The order book already surpassed $50 billion, those sources said. Verizon was initially expected to sell about $25 billion of debt. But with the order books not expected to close until Tuesday afternoon, the size could be increased. The deal is already set to surpass Apple's $17 billion debt offering earlier this year, which was the largest on record. Verizon has launched the multi-tranche debt offering to fund its $130 billion buyout of Vodafone's stake in Verizon Wireless. The multi-tranche bond deal consisting of three-year fixed and floating notes, five-year fixed and floating notes and four fixed rate tranches with seven-, 10-, 20- and 30-year maturities, according to a filing with the Securities and Exchange Commission.
It looks like the $50bln bonds could be sold soon? Step forward AT&T.
Thanks for posting Nige. Very positive news and might cause my October time frame to move forward into late September. Thought it would take two to three weeks and a couple offerings so this is super great news.
Think VOD share price might get slapped a touch as the KD deal falls apart but those who realize it sets up VOD for a possible takeover bid by T will be buying hand over fist. Don't think that mare will know what hit her. Brace up BKB.