Verizon to redeem debt securities on June 15, 2020
May 15 2020 - 2:27AM
Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today
announced that it will redeem the following notes on June 15,
2020 (the “Redemption Date”):
I.D. Number |
Title of Security |
NYSETradingSymbol |
Principal Amount Outstanding |
|
CUSIP: 92343V BV5ISIN: XS1030900168Common Code: 103090016 |
|
2.375% Notes due February 17, 2022 (the “2.375% Notes”) |
|
VZ22A |
|
€935,347,000 |
|
CUSIP: 92343V DH4ISIN: XS1405767275Common Code: 140576727 |
|
0.500% Notes due June 2, 2022 (the “0.500% Notes”) |
|
VZ22B |
|
€453,963,000 |
The redemption price for the 2.375% Notes will be equal to the
greater of (i) 100% of the principal amount of the 2.375% Notes
being redeemed, or (ii) the sum of the present values of the
remaining scheduled payments of principal and interest on the
2.375% Notes (exclusive of interest accrued to the Redemption
Date), as the case may be, discounted to the Redemption Date on an
annual basis (ACTUAL/ACTUAL (ICMA)) at the Comparable
Government Bond Rate (as defined in the 2.375% Notes) plus 20 basis
points (the “2.375% Redemption Price”), plus accrued and unpaid
interest on the principal amount being redeemed to, but excluding,
the Redemption Date. The 2.375% Notes Redemption Price will be
calculated in accordance with the terms of the 2.375% Notes on the
third Business Day (as defined in the 2.375% Notes) preceding the
Redemption Date.
The redemption price for the 0.500% Notes will be equal to the
greater of (i) 100% of the principal amount of the 0.500% Notes
being redeemed, or (ii) the sum of the present values of the
remaining scheduled payments of principal and interest on the
0.500% Notes (exclusive of interest accrued to the Redemption
Date), as the case may be, discounted to the Redemption Date on an
annual basis (ACTUAL/ACTUAL (ICMA)) at the Comparable
Government Bond Rate (as defined in the 0.500% Notes) plus 15 basis
points (the “0.500% Redemption Price”), plus accrued and unpaid
interest on the principal amount being redeemed to, but excluding,
the Redemption Date. The 0.500% Notes Redemption Price will be
calculated in accordance with the terms of the 0.500% Notes on the
third Business Day (as defined in the 0.500% Notes) preceding the
Redemption Date. Annual interest on the 0.500% Notes will be paid
on June 2, 2020 to each holder of record on the close of business
on May 19, 2020.
Questions relating to the notice of redemption and related
materials should be directed to the paying agent: U.S. Bank
National Association, c/o Elavon Financial Services DAC, UK Branch,
125 Old Broad Street, Fifth Floor, London, EC2N 1AR, United
Kingdom, or via telephone at 1-800-934-6802.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on
June 30, 2000 and is celebrating its 20th year as one of the
world’s leading providers of technology, communications,
information and entertainment products and services. Headquartered
in New York City and with a presence around the world, Verizon
generated revenues of $131.9 billion in
2019. The company offers voice,
data and video services and solutions on its award winning networks
and platforms, delivering on customers’ demand for
mobility, reliable network connectivity, security and control.
Cautionary Statement Regarding
Forward-Looking Statements
In this communication we have made forward-looking statements.
These forward-looking statements are not historical facts, but only
predictions and generally can be identified by use of statements
that include phrases such as “will,” “may,” “should,” “continue,”
“anticipate,” “believe,” “expect,” “plan,” “appear,” “project,”
“estimate,” “intend,” or other words or phrases of similar import.
Similarly, statements that describe our objectives, plans or goals
also are forward-looking statements. These forward-looking
statements are subject to risks and uncertainties which could cause
actual results to differ materially from those currently
anticipated. Factors that could materially affect these
forward-looking statements can be found in our periodic reports
filed with the SEC. Eligible holders are urged to consider these
factors carefully in evaluating the forward-looking statements and
are cautioned not to place undue reliance on these forward-looking
statements. The forward-looking statements included in this press
release are made only as of the date of this press release, and we
undertake no obligation to update publicly these forward-looking
statements to reflect new information, future events or otherwise.
In light of these risks, uncertainties and assumptions, the
forward-looking events might or might not occur. We cannot assure
you that projected results or events will be achieved.
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Media contact:Eric
WilkensEric.wilkens@verizon.com201.572.9317@ericwilkens
Verizon Communications (NYSE:VZ)
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