- Verizon Communications (VZ) received orders for $100B of new bonds from over 1,000 investors as it sold $49B worth of debt in the largest corporate-bond offering in U.S. history.
- Everyone seems to have emerged happy from this deal. Verizon received a huge chunk of the money it needs - and at relatively low rates - to pay for the $130B acquisition of Vodafone's 45% stake in Verizon Wireless; the banks involved made $265M in fees, with Barclays (BCS), JPMorgan (JPM), Bank of America (BAC) and Morgan Stanley (MS) each earning about $41M; and investors received a higher-yielding debt from a strong U.S. company.
As expected, Verizon bond offering a raging success
Sep 12 2013, 02:42 ET