AT&T Sells $5 Billion of Bonds to Help Refinance Maturing Debt

AT&T Inc., the second-largest U.S. wireless carrier, sold $5 billion of bonds to help pay back debt maturing this year.

AT&T sold $1.5 billion of 2.4 percent, five-year notes that yield 148 basis points more than similar-maturity Treasuries, $1.5 billion of 3.875 percent, 10-year debt at a spread of 160 basis points and $2 billion of 5.55 percent, 30-year bonds that pay 185 basis points more than benchmarks, according to data compiled by Bloomberg. Proceeds may also be used for general corporate purposes, said a person familiar with the offering, who declined to be identified because the terms are private.