Verizon Initiates Five-Part Bond Sale to Fund Frontier Acquisition

Verizon Communications Inc. has begun a five-part bond sale to fund its acquisition of Frontier Communications Parent Inc. The sale, managed by Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo, will be in as many as five parts, with the longest portion, a 40-year bond, priced at 1.6 percentage points above Treasuries. Verizon previously secured $10 billion in short-term bank funding for the deal.