By Andrea Heisinger
New York, May 19 - Cellco Partnership d/b/a Verizon Wireless Capital LLC sold $4 billion of notes (A2/A/A) in two tranches Tuesday, an informed source said.
The $1.25 billion of two-year floating-rate notes priced at par to yield three-month Libor plus 260 basis points.
The $2.75 billion of 3.75% two-year notes priced at 99.922 to yield 3.791%, or Treasuries plus 290 bps. The notes have a make-whole call at Treasuries plus 45 bps.
The deal was sold via Rule 144A.
Bookrunners were Citigroup Global Markets Inc., Goldman Sachs & Co. and UBS Investment Bank.
The wireless telecommunications company is based in Basking Ridge, N.J.
| Issuer: | Cellco Partnership d/b/a Verizon Wireless Capital LLC
|
| Issue: | Notes
|
| Total amount: | $4 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., UBS Investment Bank
|
| Distribution: | Rule 144A
|
| Trade date: | May 19
|
| Settlement date: | May 22
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
|
|
| Two-year floaters
|
| Amount: | $1.25 billion
|
| Maturity: | May 20, 2011
|
| Coupon: | Three-month Libor plus 260 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 260 bps
|
| Call: | Non-callable
|
|
|
| Two-year fixed-rate notes
|
| Amount: | $2.75 billion
|
| Maturity: | May 20, 2011
|
| Coupon: | 3.75%
|
| Price: | 99.922
|
| Yield: | 3.791%
|
| Spread: | Treasuries plus 290 bps
|
| Call: | Make-whole at Treasuries plus 45 bps
|
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