US wireless leader Verizon Communications plans to issue US$4.5bn of senior unsecured notes as it looks to refinance part of its debt.
Ratings agency Fitch said it assigned an A rating to the notes that will be offered in three tranches.
Barclays, BofA…
US wireless leader Verizon Communications plans to issue US$4.5bn of senior unsecured notes as it looks to refinance part of its debt.
Ratings agency Fitch said it assigned an A rating to the notes that will be offered in three tranches.
Barclays, BofA Merrill Lynch, JP Morgan and RBS are bookrunners on the transaction, Verizon said in an SEC filing.
The proceeds of the offering will be used for a tender offer for its US$1.25bn of 8.95% notes due 2039, and the retirement of at least a portion of its US$750m of 4.35% notes due 2013, its US$1bn of 4.625% debentures due 2013, and lastly its US$2bn of 8.75% notes due 2018.
At the end of September Verizon had US$52.8bn in debt on a consolidated basis, with US$6.3bn of that amount maturing within the next year.
