Sept 12 Leading bond-fund managers Pacific
Investment Management Co. and BlackRock Inc bought about
$13 billion of the debt Verizon Communications Inc sold
in its record $49 billion bond offering, the Wall Street Journal
reported on Thursday, citing people familiar with the matter.
Pimco, a unit of Germany's Allianz SE, bought
about $8 billion of the bonds, while BlackRock purchased about
$5 billion, the Journal said, citing the people.
Both firms discussed interest rates on Verizon's debt early
on with the company and the bankers involved in selling the
bonds, the daily reported.
Pimco, BlackRock and Verizon were not immediately available
for comment when reached by Reuters.
Verizon, the world's biggest telecom company, set a new
record for the largest corporate debt offering when it launched
the $49 billion, eight-tranche bond on Wednesday, partly to
finance the $130 billion buyout of its wireless operations from
Vodafone Group Plc.
The offering drew a total of $101 billion in orders from
pension funds, endowments, institutional buyers and wealth
managers hungry for higher-yielding securities.
The final size of the bond was at the top end of the $45-$49
billion range that the market expected, following demand in
excess of $100 billion.