Midday Commentary: Verizon deal attracts interest; Barclays, Aegon move on low volumes

By Christine Van Dusen

Atlanta, Jan. 31 - Preferred stock market investors were intrigued by the new "baby bond" issue that Verizon Communications Inc. brought to the market on Thursday, a trader said.

This allowed the New York City-based telecommunications company to upsize the deal to $500 million.

The issue of 5.9% notes due Feb. 15, 2054 priced at par, following talk for a yield of 6% to 6.125%.

The $25-par notes are callable in 2019 at par.

BofA Merrill Lynch, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the bookrunners for the Securities and Exchange Commission-registered deal.

The notes will be listed on the New York Stock Exchange.

In trading on Friday morning, Barclays Bank plc's 8.125% non-cumulative callable dollar preference shares, series 5, ADR were up 4 cents at $25.55 on volume totaling 20,392.

The company's 7.1% non-cumulative callable dollar preference shares, series 3, ADR dropped 7 cents to $25.29 on just 5,441 shares traded.

And Aegon NV's 6.375% perpetual capital securities moved up 3 cents to $24.53 on volume totaling 5,326.

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