AT&T Raises $3B Through Debt Sale
Telco Had $61B in Debt Outstanding as of Sept. 30
By Jon Hemingway -- Broadcasting & Cable, 12/3/2007 1:22:00 PM
AT&T raised $3 billion through a sale in the public debt markets Monday afternoon.
The company raised $2 billion through the sale of a note offering with an interest rate of 6.3% that will be due in 2038 and $1 billion through a note with an interest rate of 4.95% due in 2013, according to syndicate sources. The deal, which will settle Dec. 6, was managed by Goldman Sachs, JP Morgan and Wachovia.
The company will use the funds to repay debt that is maturing and for general corporate purposes. As of Sept. 30 the company had $61 billion in debt outstanding.
AT&T’s debt is rated “A2” by Moody’s and “A” by Standard & Poor’s.
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