- Verizon Communications (VZ) has reportedly received over $90B worth of orders for bonds that it's selling in order to help pay for the $130B acquisition of Vodafone's 45% stake in Verizon Wireless.
- Verizon is expected to sell $49B in bonds today, while it will also market a $12B loan.
- The demand has blow away all expectations - Verizon thought it would sell $20B of paper this week, while underwriters thought it would take a year to sell the $40-50B that the carrier was looking to raise.
- But investors, starved of decent yields for so long, are clamoring to participate in a deal that provides attractive returns via investment in a solid company.
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Verizon bond demand blows away expectations
Sep 11 2013, 02:06 ET