Pimco, BlackRock buy over a quarter of Verizon's $49B bond sale

|By:, SA News Editor

Pimco and BlackRock (BLK) reportedly scooped up over 25% of Verizon's (VZ) mammoth $49B bond sale on Wednesday, helping the telecom carrier to raise all the money it wanted to at once rather than in chunks, as it had originally intended.

Bill Gross' firm bought $8B in bonds and BlackRock $5B, with the two companies also influential in persuading Verizon to price the debt at an above-market rate.

Pimco funds: PCI, PTY, PDI, PHK, BOND, PKO, PCN, PCI, PFN