Verizon to redeem debt securities on November 12, 2021
October 13 2021 - 07:00AM
Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today
announced that it will redeem the following notes on November 12,
2021 (the “Redemption Date”):
I.D. Number |
Title of Security |
Principal
Amount Outstanding |
CUSIP: 92343V BY9ISIN: US92343VBY92 |
4.15% Notes due 2024 (the “Notes”) |
$477,596,000 |
The redemption price for the Notes will be equal to the greater
of (i) 100% of the principal amount of the Notes being redeemed, or
(ii) the sum of the present values of the remaining scheduled
payments of principal and interest on the Notes being redeemed
(exclusive of interest accrued to the Redemption Date) discounted
to the Redemption Date on a semiannual basis (assuming a 360-day
year consisting of twelve 30-day months) at the Treasury Rate (as
defined in the Notes) plus 25 basis points (the “Redemption
Price”), plus, in either case, accrued and unpaid interest on the
principal amount being redeemed to, but excluding, the Redemption
Date. The Redemption Price will be calculated in accordance with
the terms of the Notes on the third Business Day (as defined in the
Notes) preceding the Redemption Date.
Questions relating to the notice of redemption and related
materials should be directed to the paying agent: U.S. Bank
National Association, Attn: Corporate Trust Services, 111 Fillmore
Ave E, St. Paul, MN 55107, or via telephone at 1-800-934-6802.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on
June 30, 2000 and is one of the world’s leading providers of
technology, communications, information and entertainment products
and services. Headquartered in New York City and with a presence
around the world, Verizon generated revenues of $128.3 billion in
2020. The company offers data, video and voice services and
solutions on its award-winning networks and platforms, delivering
on customers’ demand for mobility, reliable network connectivity,
security and control.
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Forward-looking statementsIn this communication
we have made forward-looking statements. These statements are based
on our estimates and assumptions and are subject to risks and
uncertainties. Forward-looking statements include the information
concerning our possible or assumed future results of operations.
Forward-looking statements also include those preceded or followed
by the words “anticipates,” “believes,” “estimates,” “expects,”
“hopes,” “forecasts,” “plans” or similar expressions. We undertake
no obligation to revise or publicly release the results of any
revision to these forward-looking statements, except as required by
law. Given these risks and uncertainties, readers are cautioned not
to place undue reliance on such forward-looking statements. The
following important factors, along with those discussed in our
filings with the Securities and Exchange Commission (the “SEC”),
could affect future results and could cause those results to differ
materially from those expressed in the forward-looking statements:
cyber attacks impacting our networks or systems and any resulting
financial or reputational impact; natural disasters, terrorist
attacks or acts of war or significant litigation and any resulting
financial or reputational impact; the impact of the COVID-19
pandemic on our operations, our employees and the ways in which our
customers use our networks and other products and services;
disruption of our key suppliers’ or vendors' provisioning of
products or services, including as a result of the COVID-19
pandemic; material adverse changes in labor matters and any
resulting financial or operational impact; the effects of
competition in the markets in which we operate; failure to take
advantage of developments in technology and address changes in
consumer demand; performance issues or delays in the deployment of
our 5G network resulting in significant costs or a reduction in the
anticipated benefits of the enhancement to our networks; the
inability to implement our business strategy; adverse conditions in
the U.S. and international economies; changes in the regulatory
environment in which we operate, including any increase in
restrictions on our ability to operate our networks or businesses;
our high level of indebtedness; an adverse change in the ratings
afforded our debt securities by nationally accredited ratings
organizations or adverse conditions in the credit markets affecting
the cost, including interest rates, and/or availability of further
financing; significant increases in benefit plan costs or lower
investment returns on plan assets; changes in tax laws or treaties,
or in their interpretation; and changes in accounting assumptions
that regulatory agencies, including the SEC, may require or that
result from changes in the accounting rules or their application,
which could result in an impact on earnings.
Media contact: Eric
WilkensEric.wilkens@verizon.com 201.572.9317@ericwilkens
Verizon Communications (NYSE:VZ)
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