Breaking News from CNBC's Kayla Tausche: Order Book for Verizons Bonds Approaching $100B
When: Today, Tuesday, September 10, 2013
Where: CNBC's "Street Signs"
Following is the unofficial transcript of breaking news from CNBC's Kayla Tausche.
Following is a link to the interview on CNBC.com: http://video.cnbc.com/gallery/?play=1&video=3000198125.
All references must be sourced to CNBC.
KAYLA TAUSCHE: I JUST WANT TO PROVIDE AN UPDATE ON THAT BECAUSE THE ORDER BOOK FOR THE VERIZON BOND DEAL WHICH IS SET TO BE THE BIGGEST DEAL IN THE US CORPORATE BOND MARKET IS SET TO CLOSE IN JUST ABOUT 10 MINUTES. I AM TOLD THE ORDERS ARE APPROACHING $100 BILLION AND THAT VERIZON IS EXPECTED TO UPSIZE THE BOND DEAL TO ROUGLY $30 TO $40 BILLION THOUGH MANAGEMENT HAS YET TO MAKE A DECISION ON THAT FRONT. MARKET SOURCES HAVE BEEN TOLD THAT THE DEAL WILL BE UPSIZED MEANING THAT IT IS NOT ONLY THE BIGGEST BOND DEAL BUT IT COULD BE A MULTIPLE OF WHAT APPLE DID IN APRIL AT $17 BILLION. I AM TOLD THERE IS THE MOST DEMAND FOR THE 10 YEAR AND 30 YEAR TRANCHES OF THESE BONDS AND OF COURSE THAT ORDER BOOK CLOSES AT 3PM AND IT IS APPROACHING $100 BILLION.
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