November 7, 2013 / 11:37 AM / in 4 years

Verizon plans European investor meetings in November

LONDON, Nov 7 (IFR) - Verizon Communications is planning to meet European fixed income investors in November in preparation for a bond transaction that is expected to take place in the New Year, according to market sources.

The US telecommunications giant could be planning to take out a US$12bn term loan put in place during the firm’s buyout of Verizon Wireless from Vodafone, a source told IFR.

The company priced a record US$49bn bond in September, and, with the loan, completely refinanced its record-breaking $61bn bridge loan put in place to cover the debt portion of the acquisition of Vodafone’s 45% holding in Verizon Wireless.

An overwhelming response to the US dollar deal led it to abandon plans to print sterling- and euro-denominated bonds at the last minute.

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