NEW YORK, March 23, 2017 /PRNewswire/ -- Verizon
Communications Inc. ("Verizon") (NYSE, NASDAQ: VZ) today announced
that it will redeem the following series of notes (the "Notes") on
April 24, 2017 (the "Redemption Date"):
CUSIP
Number
|
|
Title of
Note
|
|
Make-Whole
Premium
|
|
Principal
Amount
Outstanding
|
|
Principal Amount
to
be Redeemed
|
92343VAM6
|
|
6.100% Notes due
2018
|
|
40 bps
|
|
$514,031,000
|
|
$514,031,000
|
92343VAL8
|
|
5.50% Notes due
2018
|
|
30 bps
|
|
$532,968,000
|
|
$532,968,000
|
The redemption price (the "Redemption Price") for each series of
Notes will be equal to the greater of: (1) 100% of the
principal amount of such Notes being redeemed, or (2) the sum
of the present values of the remaining scheduled payments of
principal and interest on such Notes (exclusive of interest accrued
to the Redemption Date), as the case may be, discounted to the
Redemption Date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Treasury Rate (as
defined in such Notes) plus the applicable make-whole premium, as
set forth in the table above; plus, in either case, accrued and
unpaid interest on the principal amount being redeemed to the
Redemption Date.
The Redemption Price for each series of Notes will be calculated
in accordance with the terms of such Notes on the third Business
Day (as defined in such Notes) preceding the Redemption
Date.
Verizon, headquartered in New York
City, has a diverse workforce of 160,900 and generated
nearly $126 billion in 2016 revenues.
Verizon operates America's most reliable wireless network, with
114.2 million retail connections nationwide. The company also
provides communications and entertainment services over mobile
broadband and the nation's premier all-fiber network, and delivers
integrated business solutions to customers worldwide.
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.
VERIZON'S ONLINE NEWS CENTER: News releases, feature stories,
executive biographies and media contacts are available at Verizon's
online News Center at www.verizon.com/news/. News releases are also
available through an RSS feed. To subscribe, visit
www.verizon.com/about/rss-feeds/.
Media contact:
Bob Varettoni
908-559-6388
robert.a.varettoni@verizon.com
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visit:http://www.prnewswire.com/news-releases/verizon-to-redeem-debt-securities-300428189.html
SOURCE Verizon