NEW YORK (AFP) – Verizon plans a record $49 billion bond sale as it gathers financing to buy Vodafone’s stake in their Verizon Wireless joint venture, a person familiar with the matter said Wednesday.
The bond offering, which had originally been scaled to $25 billion before being increased, was expected to be priced and sold to investors Wednesday, the person told AFP.
The potential bond sale comes as Verizon seeks to finance its $130 billion buyout of Vodafone’s 45 percent stake in Verizon Wireless, the largest U.S. wireless provider. The partners announced the deal last week.
A Verizon spokesman declined comment.
If successful, the proposed bond sale would far surpass Apple’s $17 billion bond sale launched in April.
Copyright 2013 The National Memo