US telco AT&T is preparing a two-tranche eurobond sale and has mandated Deutsche Bank, JP Morgan, Morgan Stanley and RBS as joint book-running managers for the offering.
One portion of the notes will mature in 2021 and the other in 2025, the…
US telco AT&T is preparing a two-tranche eurobond sale and has mandated Deutsche Bank, JP Morgan, Morgan Stanley and RBS as joint book-running managers for the offering.
One portion of the notes will mature in 2021 and the other in 2025, the Dallas-based incumbent said in an SEC filing.
AT&T is looking to raise €1bn (US$1.3bn) from both the 2021 and 2025 tranches, which should yield 95 and 130 basis points over the benchmark respectively, a person with knowledge of the transaction told Bloomberg.
In a press release published earlier today, AT&T announced a large tender offer to buy back a wide array of its different notes of up to US$4bn. The operation is being managed by Deutsche Bank and JP Morgan.
AT&T’s last bond offering was in May when it sold £1bn (US$1.56bn) unsecured 30-year notes with an all-in-yield of 4.323%. It closed its last euro-denominated offering in March: a two-tranche €1.65bn (US$2.15bn) bond sold in a public offering.
AT&T is said to be plotting its expansion into Europe and could move to take over Vodafone early next year.
