By Andrea Heisinger
New York, July 27 - AT&T Corp. sold an upsized $2.25 billion of 2.5% five-year notes late in the afternoon on Tuesday to yield 77 basis points over Treasuries, a source away from the sale said.
The size was announced at a minimum of $500 million.
The notes (A2/A/A) priced at 99.694 to yield 2.565%. They have a make-whole call of Treasuries plus 15 bps.
J.P. Morgan Securities Inc., RBS Securities Inc. and UBS Investment Bank were the bookrunners.
Proceeds are being used for general corporate purposes.
AT&T last priced bonds in a $3 billion deal in three tranches on May 8, 2008. Those tranches included a reopening of five-year notes that priced at 168 bps over Treasuries.
The telecommunications company is based in Bedminster, N.J.
| Issuer: | AT&T Corp.
|
| Issue: | Senior unsecured notes
|
| Amount: | $2.25 billion, upsized from $500 million
|
| Maturity: | Aug. 15, 2015
|
| Bookrunners: | J.P. Morgan Securities Inc., RBS Securities Inc., UBS Investment Bank
|
| Coupon: | 2.5%
|
| Price: | 99.694
|
| Yield: | 2.565%
|
| Spread: | Treasuries plus 77 bps
|
| Call: | Make-whole at Treasuries plus 15 bps
|
| Trade date: | July 27
|
| Settlement date: | July 30
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
