AT&T is issuing€3 billion ($3.27 billion) in new debt, boosting its liquidity as the novel coronavirus pandemic continues to impact the company's businesses.
In a prospectus, the telecom giant said it will use cash from the offering for general corporate purposes, including the potential to pay down existing debt.
AT&T already has a heavy debt load, holding more than $150 billion in debt at the end of 2019. It entered into a $5.5 billion term loan agreement last month to give it "financial flexibility" amid the pandemic.