New Issue - Verizon sells $4 bln in three parts

Tue Apr 1, 2008 11:57pm BST
[-] Text [+]
 April 1 (Reuters) - Verizon Communications Inc (VZ.N: Quote, Profile, Research), on
Tuesday sold $4.0 billion notes in three parts, market sources
said.
 Banc of America Securities, Lehman Brothers and Morgan
Stanley were the joint book-running managers for the five-year
and ten-year notes of the sale.
 Banc of America Securities, Barclays Capital and Credit
Suisse were the joint book-running managers for the thirty-year
bonds of the sale.
BORROWER: VERIZON COMMUNICATIONS INC
FIRST TRANCHE:
AMT $1.25 BLN    COUPON 5.25 PCT        MATURITY 4/15/2013  
TYPE NOTES       ISS PRICE 99.579       FIRST PAY 10/15/2008
MOODY'S A3       YIELD 5.346 PCT        SETTLEMENT 4/4/2008 
S&P SINGLE-A     SPREAD 270 BPS         PAY FREQ SEMI-ANNUAL
FITCH A-PLUS       MORE THAN TREAS      MAKE-WHOLE CALL 40 BPS
SECOND TRANCHE:
AMT $1.50 BLN    COUPON 6.10 PCT        MATURITY 4/15/2018  
TYPE NOTES       ISS PRICE 99.479       FIRST PAY 10/15/2008
MOODY'S A3       YIELD 6.17 PCT         SETTLEMENT 4/4/2008 
S&P SINGLE-A     SPREAD 260 BPS         PAY FREQ SEMI-ANNUAL
FITCH A-PLUS       MORE THAN TREAS      MAKE-WHOLE CALL 40 BPS
THIRD TRANCHE:
AMT $1.25 BLN    COUPON 6.90 PCT        MATURITY 4/15/2038  
TYPE BONDS       ISS PRICE 98.724       FIRST PAY 10/15/2008
MOODY'S A3       YIELD 7.002 PCT        SETTLEMENT 4/4/2008 
S&P SINGLE-A     SPREAD 260 BPS         PAY FREQ SEMI-ANNUAL
FITCH A-PLUS       MORE THAN TREAS      MAKE-WHOLE CALL 40 BPS


 
 
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