AT&T Taps High-Grade Bond Market to Sell $5 Billion of Bonds

AT&T Inc. sold $5 billion of investment-grade debt on Thursday, weeks after it agreed to a $23 billion investment to expand its network.

The telecommunications company offered notes in four parts, according to a person familiar with the matter. The longest portion of the deal, a 29-year note, yields around 1 percentage point over Treasuries, the person said, asking not to be identified as details are private. Initial price talk was for around 1.3 percentage point over Treasuries.