With Auction Bill Coming Due, Verizon Floats $25B Bond Sale

 In February, Verizon Communications Inc. pledged $45.5 billion during the U.S. government auction, claiming over half of the wireless spectrum licenses available. The company also committed roughly $8 billion in additional clearing payments to help existing license users move to other bands, reported the Wall Street Journal. Verizon plans to use the spectrum to build out its 5G offerings.

Now, Verizon is raising $25 billion in new debt to help cover the costs. The carrier already paid the first installment of $8.2 billion to the U.S. Treasury. According to Verizon Chief Financial Officer Matthew Ellis, it will use proceeds of a bond sale launched last week to pay approximately $36.4 billion owed to the Treasury by March 24. Continue Reading