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Verizon exchanging about $9B of debt

Verizon Communications Inc. on May 26 filed a registration statement in connection with a debt exchange offer.

The company is offering to exchange up to $3.19 billion of its outstanding 2.946% notes due 2022, $1.71 billion of 4.812% notes due 2039 and $4.07 billion of 5.012% notes due 2049 for like principal amounts of virtually identical registered notes.

Verizon will not receive any cash proceeds from the exchange offer, the expiration date of which was not disclosed.