AT&T Raises $6 Billion From Bond Sale, Seizing on Strong Demand

AT&T Inc. raised $6 billion from an investment-grade debt sale, seizing on strong investor demand to bolster liquidity as it prepares to close a major network-expansion deal.

The five-tranche bond deal — with maturities ranging from seven to 40 years — was sold Thursday after attracting about $29 billion of orders at the peak, according to people familiar with the matter.

Pricing on the longest maturity — a bond due in 2066 — tightened by 0.3 percentage point from early discussions to 1.4 percentage points above Treasuries, one of the people said, asking not to be identified disclosing private details. ...