AT&T Inc. Prices $1.43 Billion Principal Amount of Global Notes Via SEC-Registered Formosa Offering Listed on Taipei Exchange

March 2, 2017

AT&T Inc. priced $1.43 billion principal amount of 5.500% global notes due 2047, via an SEC-registered Formosa offering of notes to be listed on the Taipei Exchange (TPEx). The Formosa notes were offered only to “professional institutional investors” under Taiwanese law and may be redeemed at AT&T's option, in whole but not in part, on each June 15, on or after June 15, 2020, at par plus accrued and unpaid interest. The issuance is expected to close on March 21, 2016, subject to customary closing conditions.

S&C is representing the underwriters and structuring agents. BNP Paribas, Taipei Branch and Deutsche Bank AG, Taipei Branch acted as the joint book-running managers and structuring agents. AT&T is a worldwide leader in telecommunications services with a market capitalization of more than $250 billion.

The S&C team for the issuance of the notes was led by Patrick Brown, along with James Shea, Sarah Wilson, Kyra Ayo Caros and Emily Yi. Jeffrey Hochberg, Saul Brander and Andrew Motten advised on tax matters.