Verizon Communications Inc. (VZ)
NYSE - NYSE Delayed price. Currency in USD
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60.41-0.23 (-0.38%)
At close: 4:00PM EST
60.51 +0.10 (0.17%)
Before hours: 7:19AM EST
© 2020 Verizon Media. All rights reserved.
60.51 +0.10 (0.17%)
Before hours: 7:19AM EST
No it isn't.
"Caleb Mutua and Scott Moritz
Tue, November 10, 2020, 5:18 PM EST
(Bloomberg) -- Verizon Communications Inc. sold $12 billion of bonds in the fifth largest transaction of the year as blue-chip companies rushed to squeeze in debt sales following optimistic news Monday regarding a potential Covid-19 vaccine.
The telecommunications giant sold the debt in five parts, with proceeds earmarked for spectrum costs and repayment of outstanding obligations, according to a person with knowledge of the matter. The longest portion of the offering, a $2 billion 40-year security, yields 1.3 percentage points above Treasuries, after initial discussions of around 1.5 percentage points, said the person, who asked not to be identified as the details are private.
The largest U.S. wireless carrier needs more airwaves in order to keep up with the growing demand for network capacity. The company is pouring billions of dollars into 5G network expansion. This next generation of wireless technology promises dramatically higher speeds and instant response times to facilitate breakthroughs in fields such as robotic surgery and autonomous cars.
Verizon spent nearly $2 billion on 5G spectrum lease rights at a federal auction in September, and the company is expected to spend a lot more in the C-band auction which begins Dec. 8.
“The C-band spectrum is a ‘must-have’ for Verizon, so investors should consider the possibility that Verizon spends $20 billion or more,” CreditSights analysts led by Davis Hebert wrote in a note Tuesday.
Verizon led five borrowers tapping the investment-grade market Tuesday to take advantage of Monday’s broad rally after President-elect Joe Biden’s victory and better than expected news from Pfizer Inc. and BioNTech SE on the development of a coronavirus vaccine. Nine borrowers priced $18.9 billion Monday, the largest single-day volume total since Sept. 23.
Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co. and Wells Fargo & Co. managed the Verizon bond sale, the person said."
Yeah, that's not gonna happen... Who puts passwords onto a platform that allowed millions of their own accounts to be hacked at least TWICE? If you wanted a reliable car, would you buy a Yugo?
Verizon, a large public company, wants low cost labor for decades to come.
They helped bring in millions of people, to replace low paid Black workers.
These horrible people will do anything for a few dollars. And since they respect the Roundtable, care little about investors. And you still have shares. You're part of the problem. A big part. And you still have a verizon land line or wireless plan. If you love Thanksgiving, and all your other heritage, open your eyes, and do something. You are helping big business divide and ruin the country. And you are the reason they are getting away with it. O, you don't want to lose your small investment ? wow. You're gonna lose it, and a lot of other things. They've told you what they are going to do. And after seeing them let cities burn, you just stick your head in the sand, or some other soft place.