From: Reuters
Published April 1, 2008 05:50 PM

Verizon sells $4 billion in 3 parts: source

NEW YORK (Reuters) - Verizon Communications Inc <VZ.N> on Tuesday sold $4 billion of debt in three parts, said a source familiar with the transaction.

The sale included $1.25 billion of five-year notes priced to yield 2.70 percentage points more than comparable U.S. Treasuries and $1.5 billion of 10-year notes yielding 2.60 percentage points over Treasuries.

Also included in the sale were $1.25 billion of 30-year bonds priced to yield 2.60 percentage points over Treasuries.

The joint lead managers of the five and 10 year tranches were Banc of America, Lehman Brothers and Morgan Stanley. The 30-year portion was sold through Banc of America, Barclays Capital and Credit Suisse.


(Reporting by Pam Niimi; Editing by Diane Craft)

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