Verizon plans European investor meetings in November

Reuters

By Josie Cox

LONDON, Nov 7 (IFR) - Verizon Communications is planning tomeet European fixed income investors in November in preparationfor a bond transaction that is expected to take place in the NewYear, according to market sources.

The US telecommunications giant could be planning to takeout a US$12bn term loan put in place during the firm's buyout ofVerizon Wireless from Vodafone, a source told IFR.

The company priced a record US$49bn bond in September, and,with the loan, completely refinanced its record-breaking $61bnbridge loan put in place to cover the debt portion of theacquisition of Vodafone's 45% holding in Verizon Wireless.

An overwhelming response to the US dollar deal led it toabandon plans to print sterling- and euro-denominated bonds atthe last minute.

View Comments (0)