Cingular Wireless sells $2 bln in bonds

Just three days after placing more than $3 billion in equipment orders with Nokia, Ericsson and Siemens for its GSM/EDGE network, Cingular Wireless sold $2 billion worth of global bonds, opting not to increase the size of its bond sale despite drawing a reported $20 billion in bids.

Wall Street analyst firms such as Salomon Smith Barney have been recommending U.S. corporate bonds because they expect, once the economy recovers next year, that bonds will outperform equities on a risk-adjusted basis.

Goldman Sachs & Co., J.P. Morgan, and Lehman Brothers were the firms that arranged Cingular’s bond sale.

--Kelly Carroll, Staff Writer