Visa Inc. raised $16 billion in its first bond sale to finance the payment network's 21.2 billion euro ($23.3 billion) takeover of Visa Europe Ltd.
The deal is the fourth-largest corporate debt offering this year after Actavis Plc's $21 billion debt sale to buy Allergan Inc., AT&T Inc.'s $17.5 billion bond offering funding the purchase of DirectTV and AbbVie Inc.'s $16.6 billion financing to buy Pharmacyclics Inc.
“It's an inaugural issuance, it's across the curve, and this very well could be one of the last major investment-grade deals of 2015,” said Jesse Rosenthal, an analyst at CreditSights Inc. “Visa bonds are prime candidates for long-term buy and hold portfolios.”
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
