AT&T Unit Expected to Offer $4 Billion to $5 Billion of Debt

AT&T Wireless Services will sell $4 billion to $5 billion of debt in an offering that will include 5-year, 10-year and 30-year maturities, according to published reports.

Merrill Lynch and Salomon Smith Barney are handling the offering by the unit of AT&T (T Quote - Cramer on T - Stock Picks). The company is expected to sell the debt next week in a private placement.

Shares of AT&T gained 48 cents, or 2.2%, to $22.24 in recent New York Stock Exchange trading.