US incumbent AT&T has closed a two-tranche €1.65bn (US$2.15bn) bond sold in a public offering.
The issue comprises €1.25bn (US$1.63bn) in new 10-year notes, and a re-tap of its 3.550% global notes due 2032, first offered in December, for €400m…
US incumbent AT&T has closed a two-tranche €1.65bn (US$2.15bn) bond sold in a public offering.
The issue comprises €1.25bn (US$1.63bn) in new 10-year notes, and a re-tap of its 3.550% global notes due 2032, first offered in December, for €400m (US$521m).
The €1.25bn tranche carries 2.5% interest and priced at 99.79%, while the €400m slice priced at 99.667% and will become one with the original December issuance.
AT&T did not disclose what the proceeds of the offering would be used for.
BNP Paribas, Credit Suisse and UBS acted as joint bookrunners.
The Dallas-based operator’s only other bond issue this year was last month when it sold US$2.25bn of dollar-denominated three-year notes in two tranches, one of which was for floating-rate notes.
AT&T last went to market with euro-denominated notes in December when it offered two €1bn (US$1.3bn) eurobonds in separate taps.
The incumbent is said to be weighing up acquisitions outside the US market, which is close to saturation. Earlier this week it was rumoured that AT&T could buy a 25% stake in Indian telco Reliance Jio Infocomm for US$3.5bn.
At the start of the year CEO Randall Stephenson said in an interview in the US that it was ‘inevitable’ the operator would look to make acquisitions abroad. In January it was reported that the company was evaluating European telcos EE and KPN as potential targets.
