Deals
Verizon Pays Premium to Top Apple Bond Record
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Verizon Communications Inc. paid investors a premium on an unprecedented $49 billion of bonds, a cost Apple Inc. escaped during its then-record $17 billion offering four months ago.
The telephone company sold $11 billion of 10-year bonds today at a yield that’s 225 basis points more than Treasuries, according to data compiled by Bloomberg. The yield is 47 basis points more than investors demand to own bonds with similar maturities and BBB ratings. Apple issued $5.5 billion of 10-year bonds on April 30 at less than the market rate.