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AT&T Closes $8 Billion Bond Offering

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NEW YORK, NY, March 29 -- AT&T completed the world's largest global bond offering, exceeding company expectations and earning a place in the corporate history books. This transaction broke records on three fronts: it is the largest corporate bond offering, the largest global bond offering and the single-largest long bond (30-year) offering.

AT&T said it plans to use the proceeds from the offering to repay commercial paper raised in connection with its acquisition of TCI and recent $4 billion share repurchase program. The proceeds will also help AT&T continue its efforts to transform from a long distance company to an any distance company - one that connects people using voice, data and video.
Mar 1999
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