$90 Billion in Bonds
Last week was a big one for corporate bond issues. Verizon made headlines with it's record $49 billion issue, but it wasn't the only big borrower.
It's $49 billion in hand for Verizon financing its purchase of Vodafone's stake in Verizon Wireless. Only $81 billion more to go - it'll be interesting to see how the financing is structured. More US$ borrowing? Issue bonds in euros or GB pounds? Share offering?
I also thought it was interesting how much Verizon's new bonds jumped in price from issue to last week's close. There was a lot of money made over just a few days.