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


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

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Comments (3)
  • bsorge
    , contributor
    Comments (913) | Send Message
     
    It would be nice to see somewhere what the interest rates were on the bond.
    13 Sep 2013, 06:33 AM Reply Like
  • bbro
    , contributor
    Comments (11227) | Send Message
     
    This article has the Cusip's....

     

    http://bit.ly/1awdmsg

     

    You can find the bonds via the CUSIP at Fidelity...

     

    These bonds are overpriced now....
    13 Sep 2013, 07:21 AM Reply Like
  • Decider
    , contributor
    Comments (1872) | Send Message
     
    Will the size of asset base and its diversity change PCI's long-term performance and its salubrious effect?
    1 Apr, 02:37 AM Reply Like
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