AT&T Inc. closed the public offering of 48 million depositary shares Dec. 12.

Each share represented a 1/1,000th interest in a share of its 5% perpetual preferred series A stock.

In connection with the sale, the company entered into an underwriting agreement with Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, BofA Securities Inc., RBC Capital Markets LLC, J.P. Morgan Securities LLC and UBS Securities LLC.

Additionally, the company closed its sale of about $1.27 billion of 4.250% global notes due 2050.