BellSouth to sell $2.5 billion in global debt
BellSouth reportedly is planning to sell $2.5 billion of its five-year, 10-year and 30-year global debt by the middle of the week. The carrier has chosen Morgan Stanley to be the co-lead manager and bookrunner, while Lehman Brothers is expected to head up the sale.
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This news comes on the heels of the carrier's announcement last Thursday that its net income plummeted 99% for the third quarter, causing it to cut its profit outlook for 2001. BellSouth also reported that it would have to cut 3000 jobs due to slowdown in the economy and increased competition.
--Kelly Carroll, staff writer
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© 2012 Penton Media Inc.
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