By Andrea Heisinger
New York, April 26 - AT&T Inc. sold $3 billion of global notes (A2/A-/A) in two parts on Tuesday, according to a market source.
A $1.75 billion tranche of 2.95% five-year notes priced at 99.818 to yield 2.989% with a spread of Treasuries plus 97 basis points. The notes were priced at the tight end of talk, which was in the 100 bps area.
The tranche has a make-whole call at 15 bps over Treasuries.
A $1.25 billion tranche of 4.45% 10-year notes priced at 99.925 to yield 4.459% with a spread of 115 bps over Treasuries, the low end of guidance in the 120 bps area.
The tranche has a make-whole call of Treasuries plus 20 bps.
Citigroup Global Markets Inc., Goldman Sachs & Co., Merrill Lynch and Wells Fargo Securities LLC were the bookrunners.
Co-managers were Williams Capital Group LP, Banca IMI spa, Mizuho Securities USA Inc., Aladdin Capital LLC and Samuel A. Ramirez & Co. Inc.
Proceeds are being used for general corporate purposes.
The telecommunications company is based in Dallas.
| Issuer: | AT&T Inc.
|
| Issue: | Global notes
|
| Amount: | $3 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., Merrill Lynch, Wells Fargo Securities LLC
|
| Co-managers: | Williams Capital Group LP, Banca IMI spa, Mizuho Securities USA Inc., Aladdin Capital LLC, Samuel A. Ramirez & Co. Inc.
|
| Trade date: | April 26
|
| Settlement date: | April 29
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A
|
|
|
| Five-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | May 15, 2016
|
| Coupon: | 2.95%
|
| Price: | 99.818
|
| Yield: | 2.989%
|
| Spread: | Treasuries plus 97 bps
|
| Call: | Make-whole at Treasuries plus 15 bps
|
| Price talk: | 100 bps area
|
|
|
| 10-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | May 15, 2021
|
| Coupon: | 4.45%
|
| Price: | 99.925
|
| Yield: | 4.459%
|
| Spread: | Treasuries plus 115 bps
|
| Call: | Make-whole at Treasuries plus 20 bps
|
| Price talk: | 120 bps area
|
© 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.
