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Verizon commences tender offers for 8 series of notes


According to Market Intelligence, December 2022


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Verizon commences tender offers for 8 series of notes

Verizon Communications Inc. commenced eight separate offers to purchase for cash up to $2.5 billion of the outstanding series of notes.

The tender offers are for 4.672% notes due 2055, 5.012% notes due 2049, 5.012% notes due 2054, 4.862% notes due 2046, 4.812% notes due 2039, 4.522% notes due 2048, 4.125% notes due 2046 and 3.850% notes due 2042, the company said Sept. 5.

The offers will each expire at 11:59 p.m. ET on Oct. 2, unless extended or earlier terminated. To be eligible to receive the total consideration, which includes the early participation payment, holders of notes must validly tender their notes at or prior to 5 p.m. ET on Sept. 18.

Verizon has retained Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities LLC to act as lead dealer managers for the offers, and ICBC Standard Bank Plc, Loop Capital Markets LLC, Blaylock Van, LLC and C.L. King & Associates Inc. to act as co-dealer-managers for the offers.

Global Bondholder Services Corp. will act as the tender agent and the information agent for the offers.