Too big to price? The real legacy of Verizon's record bond deal
Verizon’s $49 billion bond deal rewrote the corporate finance record books. Banks say it opens up new possibilities in corporate finance. Investors who bought the bonds will hope so – they can’t believe they got them so cheap. Is Verizon’s real legacy a new type of bond deal: one where price doesn’t matter? And what does that mean for the role of bookrunners?