Verizon Bond Demand Aided by Index Weightings After Record Sale
This article is for subscribers only.
Demand for Verizon Communications Inc. bonds is being bolstered by investors seeking to align their holdings with debt indexes after the phone carrier doubled its notes outstanding with a record $49 billion offering.
Prices on Verizon debt have soared with the issuer poised to climb to the fourth-largest borrower from 12th on the Bank of America Merrill Lynch U.S. Corporate Index. The $45 billion of fixed-coupon securities in the sale may increase the New York-based company’s weighting on the Barclays U.S. Corporate Investment-Grade Index to 2.25 percent from 1 percent.