Verizon to Float $49-Billion Bond
Verizon to Float $49-Billion Bond (YahooFinance)
Verizon Communications will sell $49 billion in bonds to partially fund the $130 billion buyout of Vodafone to reclaim sole ownership of Verizon Wireless. This bond offering will dwarf the previous corporate debt offering record — the $17 billion-bond offered by Apple last April. The sale is expected to begin today. So far, Verizon already has received $90 worth of offers for its debt, which is scheduled to pay more interest than existing Verizon bonds. What does such a high level of over subscription say about investors’ attitudes toward corporate debt today?