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Verizon offers to exchange $228.6M of notes

Verizon Communications Inc. filed a registration statement March 29 in connection with a debt exchange offer.

The company is offering to exchange up to $106.1 million of its outstanding 6.800% notes due 2029 and $122.5 million of 7.875% notes due 2032 for like principal amounts of virtually identical registered notes.

The expiration date for the exchange offer was not disclosed. Verizon will not receive any cash proceeds from the issuance of the exchange notes in the exchange offer.