I'm afraid I can't really speak to whether there's a standard rate - or what that might be. Most of the on-hold work I do is for smaller companies in small markets. But just to give you some kind of point of reference - what I usually end up doing is something like $150 for the first page (double spaced, size 12 font, four spaces between paragraphs) and then an additional (smaller) rate for each additional page or portion of page.
Again - I'm no expert on this, as I'm just doing smaller market stuff - so hopefully someone else may chime in and give you a better idea of what to expect from a large company.....but if this is an area new to you ~ I at least wanted to give you something to think about.
Congratulations - I hope it works out for you!