Verizon Communications priced a massive $49 billion bond offering on Wednesday, the largest corporate debt offering ever.
The telecommunications giant, which will use the proceeds to finance a $130 billion acquisition of its wireless unit, sold a mix of three-year, five-year, seven-year, 10-year, 20-year and 30-year maturities.
Verizon's 30-year bond was priced to yield 6.559 percent and a 10-year bond was priced to yield 5.192 percent. The telecom giant sold $15 billion of 30-years and $11 billion of 10-years.
Pricing came in as expected and the bond spreads have narrowed, with the 10-year about 35 basis points tighter, Joel Levington of Brookfield Investment Management said.
"No surprise at the market's acceptance given how wide they bonds are being priced," he added. "Current bondholders' are the ones who are getting hurt from the new spreads and rating downgrades."
(Read more: Why $130 billion Verizon-Vodafone deal makes sense)