Verizon Has Biggest Bond Sale in History

NEW YORK (AP) -

Verizon raised $49 billion on Wednesday in the largest corporate bond deal ever.

The sale dwarfs the previous record, Apple’s sale of $17 billion in bonds in April, and proceeds from the sale on Wednesday will help Verizon buy the rest of its U.S. wireless business from partner Vodafone.

That $130 billion buyout of Vodafone is expected to rank as the second-largest deal when completed. Along with the money from its bond sale, Verizon will use cash and stock to pay for the buyout.