US incumbent AT&T has issued US$2.25bn of unsecured three-year notes in two tranches.
According to an SEC filing the first portion is for US$1bn of fixed-rate notes. They priced at 99.735% and carry interest of 0.9% per annum.
The second slice takes…
US incumbent AT&T has issued US$2.25bn of unsecured three-year notes in two tranches.
According to an SEC filing the first portion is for US$1bn of fixed-rate notes. They priced at 99.735% and carry interest of 0.9% per annum.
The second slice takes the form of floating-rate notes, amounting to US$1.25bn. These priced at par and carry a coupon of LIBOR plus 38.5 basis points.
BNP Paribas, Credit Suisse and UBS were bookrunners.
Moody’s rated the offering A3, S&P A-, and Fitch A.
AT&T said the proceeds would be used for general corporate purposes.
It is the first time the incumbent has tapped the bond market since December, when it raised US$6.6bn in three separate issuances.
At the end of January AT&T agreed to acquire a number of spectrum licences from Verizon for US$1.9bn in cash and a number of its own licences.
