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EM-focused AT&T unit Vrio launches $1 billion of notes in two parts
By Rebecca Melvin
New York, March 28 – Vrio Corp., a Latin America-focused subsidiary of AT&T Inc., launched $1 billion of notes in two tranches (expected ratings: Ba2/BB/BB+) on Wednesday, according to market sources.
The $350 million of five-year notes launched to yield 6¼%, and the $650 million of 10-year notes launched to yield 7%.
The 2028 notes are being issued by Vrio Finco 1 LLC, and the 2023 notes are being issued by Vrio Finco 2 Inc.
Citigroup, Goldman Sachs & Co. LLC, JPMorgan and Morgan Stanley are the bookrunners for the Rule 144A and Regulation S notes.
Vrio is a wholly owned subsidiary of AT&T and owns and operates DirectTV Latin America’s South American and Caribbean assets.
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