(Bloomberg) — AT&T Inc. and Discovery Inc. are selling $30 billion of bonds in one of the largest corporate offerings ever as they seek to fund their media business combination. The deal received $106 billion in orders in a sign investor appetite is returning to a market that’s been rattled by inflation and Russia’s invasion of Ukraine.
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The two companies are selling bonds in 11 parts via a unit, Magallanes Inc., according to a person with knowledge of the matter. The longest portion of the offering, a 40-year security, will yield 3.05 percentage points above Treasuries after earlier discussions around 3.25 percentage points, said the person, who asked not to be identified as the details are private.
At $30 billion, the sale is the largest since AbbVie Inc.’s bond sale to help finance its acquisition of Allergan Plc in 2019 and tied for the fouth-biggest…
