September 11, 2013 / 6:23 PM / 4 years ago

Verizon final order books total USD101bn

NEW YORK, Sept 11 (IFR) - Verizon Communications's USD49bn eight-part deal attracted a total order book of a whopping USD101bn. The largest chunk of orders came in for the 30-year bonds at USD27bn followed by USD21.5bn for the 10-year and USD12bn for the five-year fixed rate notes.

The breakdown of the order book on the other tranches was USD9.25bn for the three-year fixed rate tranche, USD6bn for the three-year floating rate issue, USD5bn for the five year floater, USD9bn for the seven-year and USD11.25bn for the 20-year.

The deal which priced today was broken into USD4.25bn of 2.5% three-year fixed rate notes priced at 165bp over Treasuries; USD2.25bn of three-year floating rate securities at 153bp over 3 month Libor; USD4.75bn of 3.65% five-year fixed at 190bp over; USD1.75bn of five year floating rate notes at 175bp over 3 month Libor, USD4bn of 4.5% seven-year securities at plus 215bp; USD11bn of 5.15% 10-year securities at plus 225bp, USD6bn of 6.4% 20-year notes at plus 250bp and USD15bn of 6.55% 30-year fixed rates bonds at plus 265bp - by far the biggest single tranche issued by a corporate borrower on record.

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