AT&T to price dollar-denominated global notes in two tranches

By Devika Patel

Knoxville, Tenn., Feb. 13 – AT&T Inc. intends to offer dollar-denominated global notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be sold in fixed-rate tranches due in 2029 and 2039.

Both notes feature a make-whole call and then a par call.

BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used, along with about $1 billion of cash on hand, to redeem or repay $890,148,000 of 5.2% AT&T global notes due 2020, $1,119,880,000 of 5% AT&T global notes due 2021, $37,875,000 of 4.6% DirecTV senior notes due 2021, $39,924,000 of 5% DirecTV senior notes due 2021, $1 billion of 4.7% Time Warner notes due 2021 and $1 billion of 4.75% Time Warner notes due 2021.

AT&T is a Dallas-based telecommunications company.

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