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Published on 5/21/2020 in the Prospect News Investment Grade Daily.

AT&T to price fixed-rate notes due 2027, 2031, 2041, 2051, 2060

By Cristal Cody

Tupelo, Miss., May 21 – AT&T Inc. plans to price five tranches of senior notes (Baa2/BBB/A-) on Thursday, according to a market source.

The deal includes seven-year notes with initial price talk in the Treasuries plus 220 basis points area.

A tranche of notes due June 1, 2031 is talked at the 240 bps spread area, while a tranche of notes due June 1, 2041 is initially guided to print in the 245 bps spread area.

AT&T is offering notes due June 1, 2051 with initial talk at the 260 bps over Treasuries area and a tranche of 40-year notes talked at the 280 bps over Treasuries area.

BofA Securities, Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA Inc., RBC Capital Market LLC and Wells Fargo Securities LLC are the bookrunners.

AT&T is a Dallas-based telecommunications company.


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