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Record Bond Sale Announced

Verizon planning to issue $45 billion to $49 billion of bonds as soon as tomorrow, with possibility of additional debt denominated in euros, pounds, and/or yen.

By Sarika Gangar, Bloomberg | Updated on September 10, 2013

Verizon Communications Inc. plans to sell $45 billion to $49 billion of bonds in an eight-part offering as soon as tomorrow that would be the largest on record, according to a person with knowledge of the transaction.

The sale, intended to finance a $130 billion purchase of Vodafone Group Plc’s 45 percent stake in Verizon Wireless, would be more than twice the size of Apple’s Inc.’s unprecedented $17 billion issue in April, according to data compiled by Bloomberg. Verizon is planning to sell fixed-rate debt with maturities ranging from three to 30 years as well as two portions of floating-rate securities, said another person, who asked not to be identified because terms aren’t set.

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