By Danielle Robinson
NEW YORK, Sept 11 (IFR) - Verizon Communications's USD49bneight-part deal attracted a total order book of a whoppingUSD101bn. The largest chunk of orders came in for the 30-yearbonds at USD27bn followed by USD21.5bn for the 10-year andUSD12bn for the five-year fixed rate notes.
The breakdown of the order book on the other tranches wasUSD9.25bn for the three-year fixed rate tranche, USD6bn for thethree-year floating rate issue, USD5bn for the five yearfloater, USD9bn for the seven-year and USD11.25bn for the20-year.
The deal which priced today was broken into USD4.25bn of2.5% three-year fixed rate notes priced at 165bp overTreasuries; USD2.25bn of three-year floating rate securities at153bp over 3 month Libor; USD4.75bn of 3.65% five-year fixed at190bp over; USD1.75bn of five year floating rate notes at 175bpover 3 month Libor, USD4bn of 4.5% seven-year securities at plus215bp; USD11bn of 5.15% 10-year securities at plus 225bp, USD6bnof 6.4% 20-year notes at plus 250bp and USD15bn of 6.55% 30-yearfixed rates bonds at plus 265bp - by far the biggest singletranche issued by a corporate borrower on record.