NEW YORK (MarketWatch) -- Verizon Communications Inc. (VZ) announced Monday that it is issuing bonds to help finance its acquisition of a stake in Verizon Wireless, according to a prospectus filed with the Securities and Exchange Commission. The telecommunications company said last week that it will buy the remaining 45% stake in Verizon Wireless currently owned by Vodafone Group PLC (VOD), financing roughly half with stock and half with cash. Verizon will issue debt in six maturities, according to a document reviewed by MarketWatch. The deal includes fixed and floating rates maturing in three years and five years, as well as fixed-rate notes maturing in seven, 10, 20, and 30 years. Bookrunners include JPMorgan, Barclays, Bank of America Merrill Lynch, and Morgan Stanley. Books are expected to close Tuesday afternoon. The deal could total $20 billion, making it the largest corporate bond deal on record, the Financial Times reported. Other estimates have pushed the size higher.
-Ben Eisen; 415-439-6400; AskNewswires@dowjones.com
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09-09-13 1711ETCopyright (c) 2013 Dow Jones & Company, Inc.
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