AT&T Prices $8 Billion Global Bond Offering.NEW YORK--(BUSINESS WIRE)--March 23, 1999--AT&T today announced that it priced an $8 billion global bond offering. The closing is expected to occur Friday, March 26. The global offering will consist of three tranches: - $2 billion in five-year notes due 3/15/2004 carrying a coupon rate of 5.625 percent. The underwriters plan to offer the issue to the public at 99.532 percent to yield 5.735 percent to maturity, or 64 basis points more than comparable U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. securities. - $3 billion in ten-year notes due 3/15/2009 carrying a coupon rate of 6 percent. The underwriters plan to offer the issue to the public at 99.765 percent to yield 6.032 percent to maturity, or 84 basis points more than comparable U.S. Treasury securities U.S. Treasury securities Interest-bearing obligations if the U.S. government issued by the U.S. Department of the Treasury as a means of borrowing money to meet government expenditures not covered by tax revenues. . - $3 billion in thirty-year notes due 3/15/2029 carrying a coupon rate of 6.5 percent. The underwriters plan to offer the issue to the public at 98.936 percent to yield 6.582 percent to maturity, or 94 basis points more than comparable U.S. Treasury securities. AT&T said it plans to use the proceeds from the offering to repay commercial paper raised in connection with its acquisition of TCI (Trustworthy Computing Initiative) An umbrella term from Microsoft for its efforts to improve security in Windows. TCI was announced in 2002 after viruses such as Code Red and Nimda had succeeded in attacking numerous Windows computers. and recently completed $4 billion share repurchase program. AT&T's long-term debt is rated AA- by Standard & Poor's Corp., AA- by Duff and Phelps Credit Rating Company, and A1 by Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. Inc. Merrill Lynch & Co. and Salomon Smith Barney are co-lead managers on the global bond offering. The eight co-managers include: Blaylock & Partners, L.P.; BNY BNY Bank of New York Capital Markets, Inc.; Chase Securities Inc.; Deutsche Bank Securities; First Chicago Capital Markets, Inc.; J.P. Morgan & Co.; Lehman Brothers; and NationsBanc Montgomery Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . |
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