By Andrea Heisinger
Omaha, May 8 - AT&T Corp. priced $3 billion of global notes (A2/A/A) in three tranches on Thursday, an informed source said.
The company reopened its 4.95% five-year notes to add $750 million. They were priced at 101.27 to yield Treasuries plus 168 basis points. There is a make-whole redemption option of Treasuries plus 25 bps.
Total issuance for the 4.95% notes is now $2.5 billion, including $750 million priced Jan. 29 and $1 billion priced Dec. 3, 2007.
The $1 billion tranche of 5.6% 10-year notes priced at 99.916 to yield Treasuries plus 185 bps. The notes have a make-whole redemption option of Treasuries plus 30 bps.
The $1.25 billion of 6.4% 30-year notes priced at 99.616 to yield Treasuries plus 190 bps. The notes feature a make-whole redemption of Treasuries plus 30 bps.
Bookrunners were Banc of America Securities LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. Inc. and UBS Investment Bank.
Proceeds will be used for general corporate purposes.
The communications company is based in San Antonio.
| Issuer: | AT&T Corp.
|
| Issue: | Global notes
|
| Amount: | $3 billion
|
| Bookrunners: | Banc of America Securities LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. Inc., UBS Investment Bank
|
| Trade date: | May 8
|
| Settlement date: | May 13
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
|
|
| Five-year notes
|
| Amount: | $750 million reopened
|
| Maturity: | Jan. 15, 2013
|
| Coupon: | 4.95%
|
| Price: | 101.27
|
| Spread: | Treasuries plus 168 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Total issuance: | $2.5 billion, including $750 million priced Jan. 29 and $1 billion priced Dec. 3, 2007
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | May 15, 2018
|
| Coupon: | 5.6%
|
| Price: | 99.916
|
| Spread: | Treasuries plus 185 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
|
|
| 30-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | May 15, 2038
|
| Coupon: | 6.4%
|
| Price: | 99.616
|
| Spread: | Treasuries plus 190 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
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