New Issue-Verizon sells $4 bln in 3-pt debt sale

Thu Feb 7, 2008 10:35pm GMT
[-] Text [+]
 Feb 7 (Reuters) - Verizon Communications Inc (VZ.N: Quote, Profile, Research), the
second largest U.S. telecommunications carrier, sold on
Thursday $4.0 billion of debt in three parts, said market
sources.
 Credit Suisse Securities, RBS Greenwich Capital and J.P.
Morgan were the joint lead managers for the $750 million,
five-year notes.
 Goldman Sachs, J.P. Morgan and UBS Securities were the
joint lead managers for the $1.5 billion, 10-year notes.
 Barclays Capital, Citigroup Global Markets and J.P. Morgan
were the joint lead managers for the $1.75 billion, 30-year
bonds.
BORROWER: VERIZON COMMUNICATIONS INC
FIRST TRANCHE:
AMT $750 MLN     COUPON 4.35 PCT    MATURITY 2/15/2013  
TYPE NOTES       ISS PRICE 99.724   FIRST PAY 8/15/2008 
MOODY'S A3       YIELD 4.412 PCT    SETTLEMENT 2/12/2008
S&P SINGLE-A     SPREAD 163 BPS     PAY FREQ SEMI-ANNUAL
FITCH A-PLUS       MORE THAN TREAS  MAKE-WHOLE-CALL 25 BPS
SECOND TRANCHE:
AMT $1.5 BLN     COUPON 5.50 PCT    MATURITY 2/15/2018  
TYPE NOTES       ISS PRICE 99.756   FIRST PAY 8/15/2008 
MOODY'S A3       YIELD 5.532 PCT    SETTLEMENT 2/12/2008
S&P SINGLE-A     SPREAD 178 BPS     PAY FREQ SEMI-ANNUAL
FITCH A-PLUS       MORE THAN TREAS  MAKE-WHOLE-CALL 30 BPS
THIRD TRANCHE:
AMT $1.75 BLN    COUPON 6.40 PCT    MATURITY 2/15/2038  
TYPE BONDS       ISS PRICE 99.051   FIRST PAY 8/15/2008 
MOODY'S A3       YIELD 6.472 PCT    SETTLEMENT 2/12/2008
S&P SINGLE-A     SPREAD 195 BPS     PAY FREQ SEMI-ANNUAL
FITCH A-PLUS       MORE THAN TREAS  MAKE-WHOLE-CALL 35 BPS


 
 
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