3 Telecom Stocks Seeing Action: Verizon’s Big Bond Sale, Hacker Hits Vodafone, T-Mobile’s iPhone Prices

  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Verizon Communications (NYSE:VZ): Verizon apparently received orders for $100 billion of new bonds from more than 1,000 investors as it sold $49 billion worth of debt to make for the largest corporate bond offering in U.S. history. Moreover, everyone turned out winners in the deal: Verizon received a huge block of the money it needs, and at relatively low rates, to pay for the $130 billion acquisition of Vodafone’s (NASDAQ:VOD) 45 percent stake in Verizon Wireless; the banks involved made $265 million in fees — about $41 million apiece. Investors, meanwhile, walked away with a higher-yielding debt from a strong U.S. company.

VZ-20130912

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business