Verizon Launches 2 Dollar Bond Tranches to Refinance Debt

8 articles · Updated · Bloomberg · May 11

Verizon is marketing two US dollar investment-grade note tranches with 30-year and 32-year maturities as it moves to refinance existing debt.
Initial price talk on the 32-year tranche is about 6.625 percentage points over the benchmark, according to a person familiar with the matter.
The sale taps the US investment-grade bond market for long-dated funding, extending Verizon’s debt profile while replacing older borrowings.

With a record-setting quarter, why does Verizon's new 32-year bond sale carry such a high-risk premium?

Can Verizon integrate a $20B acquisition and fund a $25B buyback while managing its massive debt?