VERIZON TRUMPS APPLE, BUT THERE ARE BETTER BUYS $VZ $AAPL $T $VOD $TMUS
Verizon just trumped Apple by orchestrating the world’s largest corporate-debt sale to date by selling $49 billion of bonds. In contrast, the previous largest corporate bond sale in the U. S. was Apple’s big bond sale in April, which, in hindsight, was a mere $17 billion. Verizon’s rush is investor’s gain Verizon VZ was in a hurry to complete the massive bond sale and, in the process, paid higher than the prevailing yields. Verizon’s hurry is investor’s gain. For example, Verizon sold 10-year bonds at 57 basis points more than the existing debt with similar maturity. The yield on other maturities is