By Danielle Robinson
NEW YORK, Sept 10 (IFR) - Verizon Communications is expectedset the size of its multi-tranche bond deal at between $45billion to $49 billion, market sources close to the deal said onTuesday, making it the biggest corporate bond issue on record bysome distance.
The sources said the issuer was likely to raise between $13billion to $15 billion in fixed and floating rates bonds withthree- and five-year maturities, $15 billion from 7-year and10-year bonds and between $18 billion to $20 billion in 20- and30- year bonds.
The final sizes will be fixed on Wednesday morning viaactive bookrunners Bank of America Merrill Lynch, Barclays, JPMorgan and Morgan Stanley.
The bonds, which attracted an order book well in excess of$90 billion, will finance the company's $130 billion buyout ofits wireless operations Verizon Wireless.
The previous record for an investment-grade bond, was $17billion sold by Apple in April 2013, at the peak of the market.