By Michelle Sierra
NEW YORK (Reuters) - Verizon Communications
The loan consists of a $2 billon, 364-day revolver and $12 billion in three-year and five-year term loans.
Pricing on the $6 billion, three-year term loan and $6 billion, five-year term loan is LIB+137.5 and LIB+150, respectively.
The $2 billion, 364-day revolver pays 10bp on undrawn amounts. Drawn pricing on the facility is LIB+125.
The tranches are part of an overall financing package that launched last week. A $49 billion bridge loan that will be refinanced in the bond market rounds out the remainder of the debt financing. Drawn pricing on the bridge loan is LIB+150.
JP Morgan, Morgan Stanley, Barclays and Bank of America Merrill Lynch are joint lead arrangers and joint bookrunners on the financing, which was underwritten equally among the four banks. JP Morgan and Morgan Stanley are global coordinators of the financing. JP Morgan is the administrative agent.
(Editing By Jon Methven)