Verizon Has Biggest Bond Sale in History
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.
This article appeared in print on page 8 of edition of Hamodia.
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