Verizon Raises $49B in Largest Corporate-Bond Sale

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Sept. 11 (Bloomberg) -- On today's "The Roundup," Bloomberg's Adam Johnson, Trish Regan, Alix Steel and Matt Miller wrap up the top market moves on Bloomberg Television's "Street Smart." (Source: Bloomberg)


Let's start off with the biggest corporate bond offering ever, verizon may sell as much as $49 billion worth of bonds today, beating the apple record $70 million offering four months ago.

It will help the company raise the money it needs to buy the stake that vodafone is selling in verizon wireless.

This is incredible.

It really is about the premium, if you take a look at the bond issue in duration, it was 2.25% over the treasury.

Paying off in order to sell, keep in mind that rates are really low.

There is a push and pull their speaking to the fact that there is this urgency to raise money now with higher premiums.

Kurt the key is that they need the money, right?

They need $130 billion per share.

They need $130 billion.

Even in 2013 that is a lot of money.

So, when apple sold $17 billion in bonds, they already had it on their balance sheet.

Here is what is fascinating about the whole thing, the market cap was 130 million.

They are -- $130 billion.

Affectively you are getting the land line business for free, right?

High-definition -- you could look at it as they are overpaying.

I am an optimist, so sure.


, there.

Yes, this guy just feeds in.


What but i do with it?

Bodman i have a land line?

-- why would i have a land line?

If the price seems to have come off the apple, and impressing critics -- the prize seems to have come off of apple, not impressing critics, shifting from being a pioneer to an emulators.

Critics say that the iphone5 has few of enough new features, not a enough of a low price tag to attract buyers in emerging markets.

Moving from innovator to emulators, that is a real kick.

Before they were actually concerned about going into the landmark because it was ended mission of not having enough innovation, that they needed the low-end market to survive, it was generated by the estimate of $81 billion in sales.

Did they do that?

The emerging market was definite.

The bottom line is they did not come out with anything that was ground breaking the awesome.

This is the problem, they have gone from an innovator to emulators.

This has nothing to do with innovation or emulation, leading the way in technology, fingerprint regulation -- motorola has already done that.

We have been doing that here on the bloomberg terminal for 10 years now.

Get with the times.

It is suppose to be faster?

That is all?

Same size?

Nothing interesting.

Slow-motion in the camera?

Siri is better.

We will see.

Emulation was a big deal.

Local carriers make 32% of market share.

You are saying they should have been a better follower?

If you are going to emulate, do it right.

That is where you have analysts from credit sweep saying the price is too high.

If you are not going to be a good leader, be a good follower, is what you're saying?

There you go, matt miller.

Lobbying for ben bernanke, picking up steam, more people signing on to choose janet yellen over larry summers to be the next chairman of the fed.

That is pretty intense.

That is a pretty overwhelming majority in terms of reducing unemployment and her consistently good judgment.

You wonder how much of this is a vote for janet yellen as opposed to a vote against larry summers, who has frankly been a controversial figure.

Incredibly successful, making himself a ton of money.

This is one of the reasons the president is moving so carefully.

What is the new news here?

We always knew that economists were behind that.

Now it is punitive?

Collects everyone in the whole country once janet yellen it's ever president obama and he is the only one that matters.

Not really, congress has to approve.

How much new capital will have to push them through congress?

Not to mention the fact that on october 1 we have a debt ceiling continuing resolution spending bill for health care exchanges to be in place.

There are a lot of politics under there.

Maybe he has a suggestion?

Maybe he does.

Maybe he is coming up with a new fed chairman.

This text has been automatically generated. It may not be 100% accurate.


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