Verizon Sells $2.25 Billion of Bonds to Fund Redemption
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Verizon Communications Inc. sold $2.25 billion of investment-grade corporate bonds Monday, as the firm plans to redeem $985 million of notes due next year.
The telecommunications firm priced 10-year debt that will yield 0.95 percentage point above Treasuries, according to a person with knowledge of the deal. Initial discussions called for a yield as much as 1.25 percentage point over the benchmark, added the person, who asked not to be identified as the details are private.