If you're one of the many Americans who had the good fortune to refinance your mortgage while interest rates were at their recent historic lows, it looks like Verizon is taking a page from your playbook.
The telecommunications giant is paying $130 billion to buy the 45 percent of Verizon Wireless it doesn't already own, and it is borrowing the money in the current market to lock in lower interest rates.
The total size of the bond offering comes in at a staggering $49 billion divided into eight tranches, meaning that Verizon is borrowing $49 billion in eight offerings of various maturities and payment terms.
"The $49 billion Verizon bond new issue being priced today looks very attractively priced for the investor, unlike the $17 billion Apple bond deal that was really priced well for the issuer," said Cliff Noreen, president of Babson Capital Management.
(Watch more: Verizon bonds very attractive: Strategist)
Noreen said his firm, which manages $183 billion, bought a significant amount of the bonds for clients.