Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers V > Headlines for Verizon Communications Inc. > News item |
Morning Commentary: Investment-grade pricing action mostly quiet; AT&T, Verizon notes improve
By Cristal Cody
Tupelo, Miss., March 24 – AT&T Inc. priced a $500 million offering of floating-rate notes early on Friday.
No other issuers were reported in the deal pipeline following a lack of supply on Thursday. Market attention remained centered on a House vote on a replacement for the Affordable Care Act. A vote expected on Thursday was delayed until Friday.
In the secondary market, bonds in the telecommunications sector traded slightly better.
AT&T’s 4.25% notes due March 1, 2027 improved modestly over the morning.
Verizon Communications Inc.’s 4.125% notes due March 16, 2027 made slight gains from Thursday.
Secondary trading volume totaled $17.7 billion on Thursday, compared to $19.16 billion on Wednesday, $20.52 billion on Tuesday and $13.7 billion on Monday, according to Trace.
AT&T gains
AT&T’s 4.25% notes due March 1, 2027 climbed to 101.40 in early secondary trading on Friday from where the notes last traded in the previous session at 100.54, a market source said.
AT&T priced $2 billion of the 10-year notes (Baa1/BBB+/A-) on Jan. 31 at 99.94 and a spread of Treasuries plus 180 basis points.
AT&T is a Dallas-based telecommunications company.
Verizon better
Verizon Communications’ 4.125% notes due March 16, 2027 traded better early Friday at 101.94, a market source said.
The notes last traded on Thursday at 101.88.
Verizon sold $3.25 billion of the notes (Baa1/BBB+/A-) on March 13 at 99.256 and a spread of Treasuries plus 160 bps.
The telecommunications company is based in New York City.
© 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.