AT&T files underwriting agreement; four note series 2032–2054

Rhea-AI Filing Summary

AT&T Inc. filed a Current Report on Form 8-K dated September 24, 2025 reporting documentation for a securities offering and related legal opinions. The filing lists an Underwriting Agreement dated September 18, 2025 and forms of global notes with stated coupons and maturities: 4.550% due 2032, 4.900% due 2035, 5.550% due 2045, and 5.700% due 2054. It also includes an opinion and consent from Bryan Hough, Assistant Vice President & Senior Legal Counsel, and the cover page formatted in Inline XBRL.

The notice is signed by George B. Goeke, Senior Vice President - Treasurer. The documents indicate steps to issue multiple tranches of notes under an underwriting arrangement; specific principal amounts, use of proceeds, or final pricing beyond coupon rates are not disclosed in the provided text.

Positive

• Multiple note maturities disclosed (2032, 2035, 2045, 2054) enabling long‑term funding flexibility
• Underwriting Agreement in place dated September 18, 2025, indicating transaction execution steps are underway
• Legal opinion and consent included from in‑house counsel supporting validity of the notes

Negative

• Coupon rates up to 5.700% signal meaningful fixed interest obligations on long‑term debt
• Principal amounts and use of proceeds not disclosed, limiting investor ability to assess material balance sheet impact

Insights

Debt Capital Markets Attorney

TL;DR: Document lists underwriting and note forms for multi‑maturity debt issuance with required legal opinion and consent.

The filing shows preparatory and executed transaction documents: an Underwriting Agreement dated September 18, 2025 and form documents for four global note series carrying coupons of 4.550%, 4.900%, 5.550%, and 5.700% with maturities in 2032, 2035, 2045, and 2054. Inclusion of an opinion and consent from in‑house counsel is standard to support validity and enforceability.

Key dependencies are final principal amounts, pricing, and registration details which are not present here; those items determine creditor ranking and covenant effects and should appear in related offering or prospectus documents.

Corporate Treasurer / Finance Analyst

TL;DR: Multiple note tranches imply planned long‑term funding; exact proceeds and intended use are not disclosed.

Listing four note maturities spanning 2032–2054 suggests a liability management strategy to lock long‑dated funding at current coupon levels. The treasurer's signature confirms corporate authorization for the report but the filing text does not state aggregate issuance size or allocation of proceeds.

Investors should look for subsequent filings that state principal amounts, net proceeds, ratings impact, and any covenant changes to assess balance sheet and interest expense effects over the corresponding maturities.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported) September 24, 2025

AT&T INC.

(Exact Name of Registrant as Specified in Charter)

Delaware		001-08610		43-1301883
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

208 S. Akard St., Dallas, Texas				75202
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s telephone number, including area code (210) 821-4105

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Act

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares (Par Value $1.00 Per Share)		T		New York Stock Exchange NYSE Texas
Depositary Shares, each representing a 1/1000th interest in a share of 5.000% Perpetual Preferred Stock, Series A		T PRA		New York Stock Exchange
Depositary Shares, each representing a 1/1000th interest in a share of 4.750% Perpetual Preferred Stock, Series C		T PRC		New York Stock Exchange
AT&T Inc. 3.550% Global Notes due November 18, 2025		T 25B		New York Stock Exchange
AT&T Inc. 3.500% Global Notes due December 17, 2025		T 25		New York Stock Exchange
AT&T Inc. 0.250% Global Notes due March 4, 2026		T 26E		New York Stock Exchange
AT&T Inc. 1.800% Global Notes due September 5, 2026		T 26D		New York Stock Exchange
AT&T Inc. 2.900% Global Notes due December 4, 2026		T 26A		New York Stock Exchange
AT&T Inc. Floating Rate Global Notes due September 16, 2027		T 27C		New York Stock Exchange
AT&T Inc. 1.600% Global Notes due May 19, 2028		T 28C		New York Stock Exchange
AT&T Inc. 2.350% Global Notes due September 5, 2029		T 29D		New York Stock Exchange
AT&T Inc. 4.375% Global Notes due September 14, 2029		T 29B		New York Stock Exchange
AT&T Inc. 2.600% Global Notes due December 17, 2029		T 29A		New York Stock Exchange
AT&T Inc. 0.800% Global Notes due March 4, 2030		T 30B		New York Stock Exchange
AT&T Inc. 3.150% Global Notes due June 1, 2030		T 30C		New York Stock Exchange
AT&T Inc. 3.950% Global Notes due April 30, 2031		T 31F		New York Stock Exchange
AT&T Inc. 2.050% Global Notes due May 19, 2032		T 32A		New York Stock Exchange
AT&T Inc. 3.550% Global Notes due December 17, 2032		T 32		New York Stock Exchange
AT&T Inc. 3.600% Global Notes due June 1, 2033		T 33A		New York Stock Exchange
AT&T Inc. 5.200% Global Notes due November 18, 2033		T 33		New York Stock Exchange
AT&T Inc. 3.375% Global Notes due March 15, 2034		T 34		New York Stock Exchange
AT&T Inc. 4.300% Global Notes due November 18, 2034		T 34C		New York Stock Exchange
AT&T Inc. 2.450% Global Notes due March 15, 2035		T 35		New York Stock Exchange
AT&T Inc. 3.150% Global Notes due September 4, 2036		T 36A		New York Stock Exchange
AT&T Inc. 4.050% Global Notes due June 1, 2037		T 37B		New York Stock Exchange
AT&T Inc. 2.600% Global Notes due May 19, 2038		T 38C		New York Stock Exchange
AT&T Inc. 1.800% Global Notes due September 14, 2039		T 39B		New York Stock Exchange
AT&T Inc. 7.000% Global Notes due April 30, 2040		T 40		New York Stock Exchange
AT&T Inc. 4.250% Global Notes due June 1, 2043		T 43		New York Stock Exchange
AT&T Inc. 4.875% Global Notes due June 1, 2044		T 44		New York Stock Exchange
AT&T Inc. 4.000% Global Notes due June 1, 2049		T 49A		New York Stock Exchange
AT&T Inc. 4.250% Global Notes due March 1, 2050		T 50		New York Stock Exchange
AT&T Inc. 3.750% Global Notes due September 1, 2050		T 50A		New York Stock Exchange
AT&T Inc. 5.350% Global Notes due November 1, 2066		TBB		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On September 24, 2025, AT&T Inc. (“AT&T”) closed its sale of $1,150,000,000 aggregate principal amount of its 4.550% Global Notes due 2032, $1,250,000,000 aggregate principal amount of its 4.900% Global Notes due 2035, $1,100,000,000 aggregate principal amount of its 5.550% Global Notes due 2045 and $1,500,000,000 aggregate principal amount of its 5.700% Global Notes due 2054 (together, the “Notes”) pursuant to an Underwriting Agreement, dated September 18, 2025 (the “Underwriting Agreement”), between AT&T and BNP Paribas Securities Corp., BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Mizuho Securities USA LLC, as the representatives of the several Underwriters named on Schedule II thereto. The Notes were issued pursuant to that certain Indenture, dated as of May 15, 2013, between AT&T and The Bank of New York Mellon Trust Company, N.A., as trustee. The Notes have been registered under the Securities Act of 1933, as amended (the “Act”), pursuant to a Registration Statement on Form S-3 (No. 333-285413) previously filed with the Securities and Exchange Commission under the Act, as supplemented by a prospectus supplement, dated September 18, 2025 relating to the Notes filed by AT&T on September 19, 2025. Copies of the Underwriting Agreement, the forms of Notes and the opinion of the Assistant Vice President - Senior Legal Counsel and Assistant Secretary of AT&T as to the validity of the Notes are filed as exhibits hereto and incorporated herein by reference. AT&T is filing this Current Report on Form 8-K so as to file with the Securities and Exchange Commission certain items that are to be incorporated by reference into its Registration Statement.

Item 9.01 Financial Statements and Exhibits.

The following exhibits are filed as part of this report:

(d) Exhibits

1.1		Underwriting Agreement, dated September 18, 2025
4.1		Form of 4.550% Global Notes due 2032
4.2		Form of 4.900% Global Notes due 2035
4.3		Form of 5.550% Global Notes due 2045
4.4		Form of 5.700% Global Notes due 2054
5.1		Opinion of Mr. Bryan Hough, Assistant Vice President - Senior Legal Counsel and Assistant Secretary, AT&T Inc., as to the validity of the Notes
23.1		Consent of Mr. Bryan Hough, Assistant Vice President - Senior Legal Counsel and Assistant Secretary (included in Exhibit 5.1)
104		The cover page from AT&T Inc.’s Current Report on Form 8-K, formatted in Inline XBRL

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				AT&T INC.
Date: September 24, 2025				By:		/s/ George B. Goeke
						George B. Goeke
						Senior Vice President - Treasurer

FAQ

What did AT&T (T) report in the Form 8-K filed September 24, 2025?

The company filed an 8-K listing an Underwriting Agreement dated September 18, 2025, forms of global notes with coupons and maturities, a legal opinion and consent by Bryan Hough, and the cover page in Inline XBRL.

What note series and coupons are listed in the filing for AT&T (T)?

The filing lists four note forms: 4.550% due 2032, 4.900% due 2035, 5.550% due 2045, and 5.700% due 2054.

Does the 8-K disclose the total amount of debt AT&T plans to issue?

No. The provided text does not disclose any aggregate principal amounts or final pricing beyond coupon rates.

Who provided the legal opinion and who signed the 8-K for AT&T (T)?

The opinion and consent are from Bryan Hough, Assistant Vice President - Senior Legal Counsel, and the 8-K is signed by George B. Goeke, Senior Vice President - Treasurer.

Does the filing state how AT&T will use the proceeds from the notes?

No. The document does not state any use of proceeds or allocation of funds.