AT&T intends to price fixed-rate, floating-rate notes in seven parts

By Devika Patel

Knoxville, Tenn., July 27 – AT&T Inc. intends to offer dollar-denominated global notes in seven tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be sold in six fixed-rate tranches and one floating-rate tranche, with one of the fixed-rate tranches and the floating-rate tranche due in 2023, a fixed-rate tranche due in 2024, a fixed-rate tranche due in 2027, a fixed-rate tranche due in 2037, a fixed-rate tranche due in 2050 and the final fixed-rate tranche due in 2058.

The fixed-rate notes feature a make-whole call and then a par call. The floaters are non-callable.

BofA Merrill Lynch, Goldman Sachs & Co., J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and MUFG are the bookrunners.

Proceeds will be used for general corporate purposes, including the company’s planned acquisition of Time Warner Inc.

AT&T is a Dallas-based telecommunications company.

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