Verizon’s $6.5bn widens after punchy 2bp NIP

Verizon coverage_map for new website
By David Rothnie
23 Oct 2014

The US high grade bond market may have shrugged off last week’s volatility this week, but Verizon Communications found investors in determined mood.

The telecoms giant demonstrated the strength and depth of the high grade market when it printed a $6.5bn blockbuster on Wednesday with a 2bp new issue premium, but the aggressive pricing backfired when each of the three tranches traded 5bp-7bp wider on ...

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