Verizon Looks to Sell High-Grade Notes to Fund Debt Redemption

The telecommunications steadfast is selling 10-year notes, with archetypal discussions of a output astir 1.2 to 1.25 percent constituent much than Treasuries, according to a idiosyncratic acquainted with the matter. Citigroup Inc., Mizuho Financial Group Inc., Santander and Wells Fargo Securities are starring the deal, said the person, who asked not to beryllium identified arsenic the details are private.

The proceeds volition beryllium utilized partially to assistance concern Verizon’s program to redeem its 2.625% notes owed 2026, which the institution disclosed connected Monday. There are astir $985 cardinal of the notes outstanding.

Verizon’s woody is 1 of much than a twelve deals successful the high-grade marketplace connected Monday, arsenic borrowers footwear disconnected a week that’s expected to spot astir $30 cardinal of investment-grade enslaved sales.

--With assistance from Brian Smith.

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