AT&T Issues $10 Billion of Debt Securities

February 9, 2017

AT&T Inc. issued an aggregate principal amount of $10.0 billion of debt securities. The offering was comprised of an issuance of six series of its notes in the following aggregate principal amounts: $1.250 billion principal amount of 3.200% global notes due 2022, $750 million principal amount of 3.800% global notes due 2024, $2 billion principal amount of 4.250% global notes due 2027, $3 billion principal amount of 5.250% global notes due 2037, $2 billion principal amount of 5.450% global notes due 2047 and $1 billion principal amount of 5.700% global notes due 2057. The proceeds from the sale of the notes are being used for general corporate purposes.

The notes were sold under a shelf registration statement that AT&T had filed with the SEC on February 25, 2016. S&C represented Barclays Capital Inc., Citigroup Global Markets Inc. and Deutsche Bank Securities Inc., the representatives of the underwriters, along with a syndicate of 19 other banks. AT&T is a worldwide leader in telecommunications services with a market capitalization of over $250 billion.

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