New Issue - Verizon sells $4 bln in three parts
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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