The wireless carrier is planning to sell around $1.2 billion in bonds backed by the contracts of around 2.5 million people across the country who recently bought new iPhones and other phones to use with Verizon plans. The monthly payments people make on their phones would be used to pay interest and principal to buyers of the... Verizon Communications Inc. is calling on the bond market to help finance its customers’ smartphones.

Source: Wall Street Journal June 28, 2016 22:30 UTC