As interest rates rise, this is one thing to keep an eye on...
Regards,
John
MCI WorldCom to sell at least $3.5 billion of debt
By Reuters
Special to CNET News.com
May 16, 2000, 1:35 p.m. PT
NEW YORK--Phone company MCI WorldCom plans to sell a minimum $3.5 billion of debt in a four-part sale, dealers not connected with the sale said.
The sale is expected to include a minimum $1 billion of 18-month floating-rate notes, $1 billion of three-year notes, $750 million of six-year notes, and $750 million of 10-year notes, dealers said. At $3.5 billion, the sale would be the year's fourth largest corporate debt sale.
J.P. Morgan Securities and Salomon Smith Barney are leading the sale. Neither was immediately available to confirm the sale or its components.
MCI WorldCom is in the process of buying its smaller rival, Sprint. It filed on April 12 with the U.S. Securities and Exchange Commission to sell up to $15 billion in debt securities, and to use net proceeds for general corporate purposes. |
