A&T has priced US$17.5bn of senior unsecured notes in six tranches.
The offering includes US$3bn of 2.4% notes due 2020, US$2.75bn of 3% notes due 2022, US$5bn of 3.4% notes due 2025, US$2.5bn of 4.5% notes due 2035, US$3.5bn of 4.75% notes due 2046 and…
A&T has priced US$17.5bn of senior unsecured notes in six tranches.
The offering includes US$3bn of 2.4% notes due 2020, US$2.75bn of 3% notes due 2022, US$5bn of 3.4% notes due 2025, US$2.5bn of 4.5% notes due 2035, US$3.5bn of 4.75% notes due 2046 and US$750m of floating-rate global notes due 2020, according to a company SEC filing.
The issue price for each tranche was between 99.644% (for the 2046 notes) and 100% (for the floating-rate notes).
The settlement date is set for 4 May.
Proceeds are to be used for corporate purposes, including funding the cash consideration for previously-announced acquisitions, AT&T said.
The company’s planned US$48.5bn acquisition of DTH operator DirectTV is being reviewed by the FCC. In January, it agreed to acquire Nextel Mexico from bankrupt US telecoms group NII Holdings for US$1.88bn. AT&T plans to merge Nextel Mexico with the country’s third-largest player, Iusacell, which it recently bought from Grupo Salinas for US$2.5bn.
JP Morgan, Merrill Lynch, Pierce, Fenner & Smith and Morgan Stanley were joint bookrunners for the transaction.
Moody’s has rated the notes Baa1 (Negative), S&P BBB+ (Stable) and Fitch A- (Stable).
