Verizon Breaks Apple's Record
Today, Verizon broke Apple's record for the largest dollar value corporate bond issue in history. Apple rolled out $17 billion a few months ago; Verizon smashed that today with $49 billion slated to help pay for the piece of Verizon Wireless it doesn't already own. This was an investment grade deal, but not the really high quality stuff - the ten-year slice priced at 5.192%
Another way to put it in perspecive, if there were no other corporate bond issues this week, Verizon's by itself would make this the second biggest week for corporate issues so far this year.
One other way to look at it - I'll have something to write about for my bond review this week.
Fool On! Russ