Verizon set to unleash record breaking $20bn bond sale

Verizon Communications is expected to come to market tomorrow with the largest ever corporate bond sale, which will aim to raise $20bn.

The US telecommunications giant will sell debt ranging in maturity from three to 30 years, according to a regulatory filing. The deal would help fund Verizon's $130bn buyout of Verizon Wireless from joint-venture partner Vodafone, which owns a 45% stake in the business. The deal could see up to $80bn returned to Vodafone shareholders. The new 10-year Verizon bonds were being shopped around to yield 2.25 percentage points more than comparable treasuries, the Wall Street Journal reports. That is about 0.70 percentage point more than where nine-year Verizon bonds were trading. Veri...