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Verizon, AT&T bonds weaken on SpaceX's wireless-service plans

SUMMARY

Bonds from Verizon and AT&T fell on Friday after SpaceX announced plans to acquire US spectrum, aiming to become a "major mobile carrier."

Verizon's 6.05% note due in 2058 widened 22 basis points to 220. This could set a record spread for the security issued in May.

AT&T’s bonds also weakened, widening by six basis points in lighter trading. Both companies' shares declined on the same day.


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