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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Verizon Comms | LSE:VZC | London | Ordinary Share | COM STK USD 0.10 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 54.05 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMVZC Verizon announces tender offers for 34 tranches of notes issued by Verizon and its subsidiaries NEW YORK, March 4, 2016 -- Verizon Communications Inc. ("Verizon") (NYSE, NASDAQ: VZ; LSE: VZC) today announced the commencement of three concurrent, but separate, tender offers on behalf of itself and certain of its subsidiaries, to purchase for cash (1) any and all of the Group 1 Any and All Notes listed below (the "Group 1 Any and All Offer"), (2) any and all of the Group 2 Any and All Notes listed below (the "Group 2 Any and All Offer") and (3) up to $4.0 billion aggregate purchase price, excluding accrued and unpaid interest and any fees or commissions (the "Waterfall Cap"), of the Waterfall Notes listed below (the "Waterfall Offer," and together with the Group 1 Any and All Offer and the Group 2 Any and All Offer, the "Offers"). Verizon concurrently is soliciting consents (the "Consent Solicitation") from holders of each series of the Group 1 Any and All Notes to adopt an amendment to the indenture governing the Group 1 Any and All Notes. Group 1 Any and Group 1 Any and All CUSIP Principal Bloomberg UST Reference Security Fixed Spread Early Hypothetical All Offer Notes Amount Reference (Basis Points) Tender Total Outstanding Page Premium1 Consideration2 Issuer Verizon Communications Inc. 2.50% Notes due 2016 92343VBN3 $2,182,335,000 FIT3 0.875% due Sep. 15, 2016 30 $30 $ 1,007.41 Verizon Communications Inc. 2.00% Notes due 2016 92343VBD5 $1,250,000,000 FIT3 0.375% due Oct. 31, 2016 20 $30 $ 1,006.89 Verizon Communications Inc. 6.35% Notes due 2019 92343VAV6 $1,750,000,000 FIT5 1.500% due Mar. 31, 2019 75 $30 $ 1,132.29 Group 2 Any and All Group 2 Any and All Notes CUSIP Principal Bloomberg UST Reference Security Fixed Early Hypothetical Offer Amount Reference Spread Tender Total Outstanding Page (Basis Premium1 Consideration2 Subsidiary Issuer Points) Verizon Delaware LLC 8.375% Debentures due 2019 252759AL9 $15,000,000 FIT1 0.750% due Feb. 15, 2019 180 $50 $ 1,181.74 Verizon Delaware LLC 8.625% Debentures due 2031 252759AM7 $15,000,000 FIT1 1.625% due Feb. 15, 2026 330 $50 $ 1,368.27 Verizon Maryland LLC 8.00% Debentures due 2029* 165069AP0 $50,000,000 FIT1 1.625% due Feb. 15, 2026 305 $50 $ 1,303.88 Verizon Maryland LLC 8.30% Debentures due 2031* 165069AQ8 $100,000,000 FIT1 1.625% due Feb. 15, 2026 315 $50 $ 1,350.11 Verizon Maryland LLC 5.125% Debentures due 2033 92344WAB7 $350,000,000 FIT1 3.000% due Nov. 15, 2045 235 $50 $ 1,010.77 Verizon New England Inc. 7.875% Debentures due 2029* 644239AY1 $348,965,000 FIT1 1.625% due Feb. 15, 2026 330 $50 $ 1,264.12 Verizon New Jersey Inc. 8.00% Debentures due 2022 645767AY0 $200,000,000 FIT1 1.125% due Feb. 28, 2021 230 $50 $ 1,237.78 Verizon New Jersey Inc. 7.85% Debentures due 2029* 645767AW4 $148,935,000 FIT1 1.625% due Feb. 15, 2026 285 $50 $ 1,313.94 Verizon New York Inc. 6.50% Debentures due 2028 650094CJ2 $100,000,000 FIT1 1.625% due Feb. 15, 2026 295 $50 $ 1,153.88 Verizon New York Inc. 7.375% Debentures due 2032 92344XAB5 $500,000,000 FIT1 3.000% due Nov. 15, 2045 280 $50 $ 1,200.13 Verizon Pennsylvania LLC 6.00% Debentures due 2028 07786DAA4 $125,000,000 FIT1 1.625% due Feb. 15, 2026 295 $50 $ 1,112.68 Verizon Pennsylvania LLC 8.35% Debentures due 2030 078167AZ6 $174,975,000 FIT1 1.625% due Feb. 15, 2026 330 $50 $ 1,326.81 Verizon Pennsylvania LLC 8.75% Debentures due 2031 078167BA0 $125,000,000 FIT1 1.625% due Feb. 15, 2026 345 $50 $ 1,359.29 Verizon Virginia LLC 7.875% Debentures due 2022 165087AN7 $100,000,000 FIT1 1.125% due Feb. 28, 2021 215 $50 $ 1,226.97 Verizon Virginia LLC 8.375% Debentures due 2029 165087AL1 $100,000,000 FIT1 1.625% due Feb. 15, 2026 320 $50 $ 1,322.34 Waterfall Offer Waterfall Notes CUSIP(s)/ Principal Bloomberg UST Reference Security Fixed Early Hypothetical Issuer ISIN Amount Reference Spread Tender Total Outstanding Page (Basis Premium1 Consideration2 Acceptance Points) Priority Levels 1 Verizon Communications Inc. 8.95% Notes due 2039 92343VAR5 $353,376,000 FIT1 3.000% due Nov. 15, 2045 255 $50 $ 1,493.22 2 Alltel Corporation 7.875% Debentures due 2032 020039DC4 $451,801,000 FIT1 3.000% due Nov. 15, 2045 235 $50 $ 1,313.08 3 Verizon Communications Inc. 7.75% Notes due 2032 92344GAS5 $250,785,000 FIT1 3.000% due Nov. 15, 2045 230 $50 $ 1,305.37 4 Verizon Communications Inc. 7.35% Notes due 2039 92343VAU8 $480,330,000 FIT1 3.000% due Nov. 15, 2045 255 $50 $ 1,281.66 5 GTE Corporation 6.94% Debentures due 2028 362320BA0 $800,000,000 FIT1 1.625% due Feb. 15, 2026 240 $50 $ 1,251.19 6 GTE Corporation 8.75% Debentures due 2021* 362320AT0 $300,000,000 FIT1 1.125% due Feb. 28, 2021 150 $50 $ 1,301.98 7 Verizon Communications Inc. 7.75% Notes due 2030 92344GAM8/ $1,206,196,000 FIT1 1.625% due Feb. 15, 2026 245 $50 $ 1,372.06 92344GAC0/ USU92207AC07 8 Verizon Communications Inc. 6.55% Notes due 2043 92343VBT0 $6,585,304,000 FIT1 3.000% due Nov. 15, 2045 220 $50 $ 1,251.06 9 Verizon Communications Inc. 6.40% Notes due 2033 92343VBS2 $2,195,974,000 FIT1 3.000% due Nov. 15, 2045 210 $50 $ 1,190.23 10 Alltel Corporation 6.80% Debentures due 2029 020039AJ2 $234,621,000 FIT1 1.625% due Feb. 15, 2026 245 $50 $ 1,247.89 11 Verizon Communications Inc. 6.90% Notes due 2038 92343VAP9 $476,578,000 FIT1 3.000% due Nov. 15, 2045 250 $50 $ 1,224.40 12 Verizon Communications Inc. 6.250% Notes due 2037 92343VAF1 $750,000,000 FIT1 3.000% due Nov. 15, 2045 240 $50 $ 1,149.96 13 Verizon Communications Inc. 6.40% Notes due 2038 92343VAK0 $866,375,000 FIT1 3.000% due Nov. 15, 2045 250 $50 $ 1,158.45 14 Verizon Communications Inc. 5.85% Notes due 2035 92344GAX4 $1,500,000,000 FIT1 3.000% due Nov. 15, 2045 220 $50 $ 1,120.91 15 Verizon Communications Inc. 6.00% Notes due 2041 92343VAW4 $1,000,000,000 FIT1 3.000% due Nov. 15, 2045 235 $50 $ 1,137.12 16 Verizon Communications Inc. 5.15% Notes due 2023 92343VBR4 $8,516,519,000 FIT1 1.625% due Feb. 15, 2026 110 $50 $ 1,146.04 (1) Per $1,000 principal amount of Notes validly tendered and not validly withdrawn at or prior to the Early Participation Time. (2) Per $1,000 principal amount of Notes, assuming that the Reference Yield (as defined in the Offer to Purchase) had been measured at 11:00 a.m., New York City time, on March 3, 2016 and assuming a hypothetical settlement date of April 4, 2016. The hypothetical Total Consideration includes the Early Tender Premium and excludes accrued and unpaid interest. * Denotes a series of Notes, a portion of which is held in physical certificated form (such portion, the "Certificated Notes") and is not held through The Depository Trust Company ("DTC"). Such Certificated Notes may only be tendered in accordance with the terms and conditions of the Letter of Transmittal (as defined in the Offer to Purchase). With respect to the Certificated Notes, all references to the Offer to Purchase herein shall also include the Letter of Transmittal. Pursuant to the Consent Solicitation, Verizon is soliciting consents from holders of each series of the Group 1 Any and All Notes to amend the indenture governing the Group 1 Any and All Notes (the "Verizon Communications Indenture") in order to shorten the minimum period for giving notice to holders of such series of Group 1 Any and All Notes of a redemption from 30 days to three business days prior to a redemption date (the "Proposed Amendment").
March 04, 2016 13:09 ET (18:09 GMT)
such same waiver, extension, termination, or other amendment to such other Offer or the Consent Solicitation with respect to such other series of Notes. If Verizon makes a material change in the terms of an Offer or the Consent Solicitation with respect to one or more series of Notes, Verizon will disseminate additional materials or, if appropriate, issue a press release setting forth such changes, and will extend the affected Offers or the Consent Solicitation with respect to such affected Notes to the extent required by law. If Verizon terminates any Offer with respect to one or more series of Notes, it will give prompt notice to the Depositary, and all Notes tendered pursuant to such terminated Offer will be returned promptly to the tendering holders thereof. With effect from such termination, any Notes blocked in DTC will be released or returned in the case of any tendered Certificated Notes. Verizon has retained Goldman, Sachs & Co., RBC Capital Markets, LLC and Santander Investment Securities Inc. to act as lead dealer managers (together, the "Lead Dealer Managers") for the Offers and as lead solicitation agents for the Consent Solicitation (together the "Lead Solicitation Agents") and Mitsubishi UFJ Securities (USA), Inc., CastleOak Securities, L.P., Drexel Hamilton, LLC, Samuel A. Ramirez & Company, Inc. and Siebert Brandford Shank & Co., L.L.C. to act as co-dealer managers (the "Co-Dealer Managers" and together with the Lead Dealer Managers, the "Dealer Managers") and co-solicitation agents (the "Co-Solicitation Agents" and together with the Lead Solicitation Agents, the "Solicitation Agents") in connection with the Offers and the Consent Solicitation. Global Bondholder Services Corporation will act as the Information Agent and the Depositary for the Offers and the Consent Solicitation. Questions regarding terms and conditions of the Offers or the Consent Solicitation should be directed to Goldman, Sachs & Co. at (800) 828-3182 (toll-free) or (212) 357-1039 (collect), RBC Capital Markets, LLC at (877) 381-2099 (toll-free) or (212) 618-7822 (collect) or Santander Investment Securities Inc. at 855-404-3636 (toll-free) or 212-940-1442 (collect). Requests for documentation or for assistance with the procedures for tendering Notes should be directed to Global Bondholder Services Corporation at (866) 470-3800 (toll-free) or (212) 430-3774 (collect). This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to purchase or a solicitation of consents with respect to any Notes. The Offers and the Consent Solicitation are being made solely pursuant to the Offer to Purchase and related documents. The Offers and the Consent Solicitation are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Offers and the Consent Solicitation to be made by a licensed broker or dealer, the Offers and the Consent Solicitation will be deemed to be made on behalf of Verizon by the Dealer Managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction. Verizon Communications Inc. (NYSE, Nasdaq: VZ) employs a diverse workforce of 177,700 and generated nearly $132 billion in 2015 revenues. Verizon operates America's most reliable wireless network, with more than 112 million retail connections nationwide. Headquartered in New York, the company also provides communications and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers worldwide. Cautionary Statement Regarding Forward-Looking Statements In this communication we have made forward-looking statements. These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include phrases such as "will," "may," "should," "continue," "anticipate," "believe," "expect," "plan," "appear," "project," "estimate," "intend," or other words or phrases of similar import. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. These forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated. Factors that could materially affect these forward-looking statements can be found in our periodic reports filed with the SEC. Eligible holders are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to update publicly these forward-looking statements to reflect new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur. We cannot assure you that projected results or events will be achieved. VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts and other information are available at Verizon's online News Center at www.verizon.com/news/. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/. Media contact: Bob Varettoni 908-559-6388 robert.a.varettoni@verizon.com SOURCE: Verizon END
(END) Dow Jones Newswires
March 04, 2016 13:09 ET (18:09 GMT)
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