Verizon Communications Inc. issued $2.25 billion of high-grade corporate bonds to assist in redeeming $985 million of notes due next year. The telecommunications company priced a 10-year debt yielding 0.95 percentage points above Treasuries, lower than the initially expected yield of 1.25 percentage points over the benchmark. This fund will also help finance the redemption of Verizon's 2.625% 2026 notes next month. Verizon was among 16 investment-grade borrowers in the US market, taking advantage of the current favorable market conditions. Other companies joining in this wave of bond offerings include Verizon’s competitor, T-Mobile US Inc., which is in the process of marketing a $3.5 billion, three-part deal. The total high-grade bond sales for the session are estimated at almost $25 billion, exceeding 80% of dealers' expectations for the whole week. Leading the Verizon offering were Citigroup Inc., Mizuho Financial Group Inc., Banco Santander SA, and Wells Fargo Securities.