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Verizon Sells $1.5 Billion In Bonds

Discussion in 'GENERAL Wireless Discussion' started by KevinJames, Mar 26, 2002.

  1. KevinJames

    KevinJames WA's 1st retired mod
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    Verizon Communications, partial owner in the Verizon Wireless joint venture with Vodafone Group, on Monday said it sold $1.5 billion in bonds to refinance short-term debt. Included in the sale were $1 billion in 10-year notes as well as $500 million in 30-year notes. Financial experts point out that the longer-term debt is a safer bet due to less-frequent refinancing. Verizon will use the borrowed funds to reduce as much as $12.8 billion in debt that will mature in coming months.

    Monday's sale is the fifth major debt offering made by Verizon since August 2001, bringing the total amount refinanced to $5 billion. Shares in Verizon today rose nearly 1.4 percent to $46.29.

    Source:
    WirelessWeek
     

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