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Verizon to redeem notes

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Verizon to redeem notes

VerizonCommunications Inc. on April 8 will redeem 2.50% notes due 2016,2.00% notes due 2016, and 6.35% notes due 2019.

The redemption price for each series of notes will be equal tothe sum of the present values of the remaining scheduled payments of principaland interest on that series of notes, discounted to the redemption date on asemiannual basis at the treasury rate plus the applicable make-whole premium,plus accrued and unpaid interest on the principal amount being redeemed to butexcluding the redemption date, the company said April 5.

The principal amount outstanding and the principal amount tobe redeemed for the 2.50% notes due 2016 is about $909.9 million; the principalamount outstanding and the principal amount to be redeemed for the 2.00% notesdue 2016 is about $518.9 million; and the principal amount outstanding and theprincipal amount to be redeemed for the 6.35% notes due 2019 is about $779.8million.

Further, the company said that the redemption price will becalculated in accordance with the terms of such series of notes on the thirdbusiness day preceding the redemption date.