By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, Feb. 16 – AT&T Inc. priced $1.75 billion of 5.539% three-year global notes (Baa2/BBB/BBB+) on Thursday at par, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at Treasuries plus 120 basis points. Price talk started in the 135 bps area.
Mizuho Securities USA LLC, Loop Capital Markets LLC, SMBC Nikko Securities America, Inc., TD Securities (USA) LLC and PNC Capital Markets LLC were the bookrunners.
Proceeds from the deal will be used to repay a portion of the amounts outstanding under AT&T’s $2.5 billion term loan agreement entered into on Nov. 16 with Mizuho Bank, Ltd. as agent, which matures on Feb. 16, 2025.
AT&T is a Dallas-based telecommunications company.
| Issuer: | AT&T Inc.
|
| Amount: | $1.75 billion
|
| Issue: | Global notes
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| Maturity: | Feb. 20, 2026
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| Bookrunners: | Mizuho Securities USA LLC, Loop Capital Markets LLC, SMBC Nikko Securities America, Inc., TD Securities (USA) LLC and PNC Capital Markets LLC
|
| Junior structuring agents: | Great Pacific Securities, Multi-Bank Securities, Inc., Penserra Securities LLC and Telsey Advisory Group LLC
|
| Trustee: | Bank of New York Mellon Trust Co. NA
|
| Coupon: | 5.539%
|
| Price: | Par
|
| Yield: | 5.539%
|
| Spread: | Treasuries plus 120 bps
|
| Call features: | Make-whole call prior to Feb. 20, 2024 at Treasuries plus 20 bps, thereafter at par
|
| Trade date: | Feb. 16
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| Settlement date: | Feb. 22
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| Ratings: | Moody’s: Baa2
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| S&P: BBB
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| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 135 bps area
|
| Cusip: | 00206RMP4
|
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