(Reuters) -Verizon Communications is looking to raise about $10 billion in the corporate bond market to fund its $20 billion deal for Frontier, Bloomberg News reported on Monday, citing a person familiar with the matter. The wireless carrier filed for a five-part bond sale, earlier in the day, without disclosing a size. Initial price discussions for the longest portion of the deal, a 40-year bond, are about 1.6 percentage points above Treasuries, the report said. Verizon did not immediately respond to a Reuters request for comment. The company agreed to buy Frontier last year for about $9.6 billion and absorb $10 billion in Frontier debt. It is looking to close its deal for the fiber-optic internet provider early next year, after receiving regulatory approval in May upon agreeing to end its diversity programs. The news follows Meta Platforms' biggest bond sale of up to $30 billion announced last month, as enterprises rush to fund costly artificial intelligence expansion plans. Cloud infrastructure and software maker Oracle is also reportedly looking to raise $15 billion in bond sales. (Reporting by Harshita Mary Varghese in Bengaluru;Editing by Arun Koyyur) (The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
