Issuer: Bell Atlantic (exchangeable into Cable & Wireless Communications shares)
Date: August 1998
Amount: $3.2 billion
Bookrunner: Warburg Dillon Reed
Asked to point out the ideal time during 1998 to launch an equity-linked financing and you would probably say spring. You would be unlikely to think that the beginning of August, just as the holidays were getting underway and the global economy was about to go into meltdown, was the best time to issue. But a week after they announced a merger with GTE, that is exactly what Bell Atlantic did.
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