Milbank LLP represented the underwriters in the $12 billion bond offering by Verizon Communications Inc., which was the fifth largest transaction of the year. Verizon expects to use the proceeds from the bond sale for general corporate purposes, which may include the acquisition of spectrum licenses, and the repayment of outstanding indebtedness. Verizon’s bond deal consists of five tranches of notes spanning from 5-year to 40-year-fixed rate notes. This transaction allows Verizon to take advantage of current low interest rates and low borrowing costs.
The Milbank deal team was led by Global Capital Markets partner Paul Denaro and associates Alexander Becker, Andi Hasaj and Ian Hunley.
