NEW YORK-In fulfilling a commitment made earlier this year, AT&T Corp. announced it had priced a three-year $450 million all-minority lead and underwritten bond offering.
The company said the bond offering consists of three-year notes due Sept. 15, 2002, carrying a coupon rate of 6.5 percent. The underwriters plan to offer the issue to the public at 99.5 percent to yield 6.67 percent to maturity, or 87 basis points more than same-term U.S. Treasury securities.
“This is a terrific follow-up to our $8 billion global bond offering in March when Blaylock & Partners, a minority-owned investment bank, was such a successful co-manager,” said C. Michael Armstrong, AT&T’s chief executive officer.
The bond offering team included joint-lead managers Blaylock & Partners L.P. and Utendahl Capital Partners L.P. The senior co-manager was The Williams Capital Group L.P. The four co-managers were Loop Capital Markets L.L.C., Ormes Capital Markets Inc., Ramirez & Co. Inc. and Muriel Siebert & Co. Inc.
