Verizon’s Two-Part Bond Adds to Record Reverse-Yankee Supply

Verizon Communications Inc. is adding to a record pace of so-called reverse yankee supply with a two-part sale that marks its first foray into Europe’s debt market in nearly a year and a half.

The issuer is selling €2 billion ($2.31 billion) of debt split equally across notes due in 2032 and a 12-year tranche, according to a person with knowledge of the sale, who asked not to be identified as the information is private. Pricing on both tranches has tightened in considerably during bookbuilding.