Verizon Announces Expiration and Final Results of Exchange Offers
PR Newswire Association LLC |
The Exchange Offers consist of the following: |
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(a) |
(i) |
an offer to exchange the 2.500% notes due 2016 of |
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(ii) |
an offer to exchange the 3.650% notes due 2018 of |
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in each case, for new 2.625% notes due 2020 of |
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(b) |
(i) |
an offer to exchange the 7.350% notes due 2039 of |
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(ii) |
an offer to exchange the 7.875% debentures due 2032 of |
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(iii) |
an offer to exchange the 7.750% notes due 2032 of </td> | ||
(iv) |
an offer to exchange the 7.750% notes due 2030 of |
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(v) |
an offer to exchange the 6.800% debentures due 2029 of |
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(vi) |
an offer to exchange the 6.400% notes due 2033 of |
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in each case, for new 4.862% notes due 2046 of |
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(c) |
(i) |
an offer to exchange the 6.550% notes due 2043 of |
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(ii) |
an offer to exchange the 6.900% notes due 2038 of |
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(iii) |
an offer to exchange the 6.400% notes due 2038 of |
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in each case, for new 5.012% notes due 2054 of |
The Exchange Offers were conducted by
Based on information provided by
Old Notes included in the 2020 Exchange Offers:
CUSIP |
Title of Security |
Acceptance |
Principal |
Principal Amount Tendered by the Expiration Date |
Principal Amount Expected to be Accepted Pursuant to the Exchange Offer |
92343VBN3 |
2.500% notes due 2016(1) |
1 |
|
|
|
92343VBP8 |
3.650% notes due 2018(1) |
2 |
|
|
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Old Notes included in the 2046 Exchange Offers:
CUSIP/ISIN |
Title of Security |
Acceptance |
Principal |
Principal Amount Tendered by the Expiration Date |
Principal Amount Expected to be Accepted Pursuant to the Exchange Offer |
92343VAU8 |
7.350% notes due 2039(1) |
1 |
|
|
|
020039DC4 |
7.875% debentures due 2032(2) |
2 |
|
|
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92344GAS5 |
7.750% notes due 2032(1) |
3 |
|
|
|
92344GAM8 92344GAC0 U92207AC0/ USU92207AC07 |
7.750% notes due 2030(1) |
4 |
|
|
|
020039AJ2 |
6.800% debentures due 2029(2) |
5 |
|
|
|
92343VBS2 |
6.400% notes due 2033(1) |
6 |
|
|
|
Old Notes included in the 2054 Exchange Offers:
CUSIP |
Title of Security |
Acceptance |
Principal |
Principal Amount Tendered by the Expiration Date |
Principal Amount Expected to be Accepted Pursuant to the Exchange Offer |
92343VBT0 |
6.550% notes due 2043(1) |
1 |
|
|
|
92343VAP9 |
6.900% notes due 2038(1) |
2 |
|
|
|
92343VAK0 |
6.400% notes due 2038(1) |
3 |
|
|
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_____________ |
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(1) |
Issued by |
(2) |
Issued by |
Based on the aggregate principal amount of Old Notes validly tendered (and not validly withdrawn) in the Exchange Offers and in accordance with the terms of the Exchange Offers,
(a) |
(i) |
all of the tendered 2.500% notes due 2016; and |
(ii) |
instead of accepting tendered 3.650% notes due 2018 on a prorated basis, |
|
(b) |
(i) |
all of the tendered 7.350% notes due 2039; |
(ii) |
all of the tendered 7.875% debentures due 2032; |
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(iii) |
all of the tendered 7.750% notes due 2032; |
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(iv) |
all of the tendered 7.750% notes due 2030; |
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(v) |
all of the tendered 6.800% debentures due 2029; and |
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(vi) |
after giving effect to proration and rounding, |
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(c) |
(i) |
after giving effect to proration and rounding, |
(ii) |
none of the tendered 6.900% notes due 2038; and |
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(iii) |
none of the tendered 6.400% notes due 2038. |
The settlement date for the Exchange Offers is expected to be August 21, 2014.
Consummation of the Exchange Offers is subject to the satisfaction of the Accounting Treatment Condition (as described in the Offering Memorandum). As previously announced, the Yield Condition (as described in the Offering Memorandum) has been satisfied.
The Exchange Offers were extended only (1) to holders of Old Notes that are "Qualified Institutional Buyers" as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), in a private transaction in reliance upon the exemption from the registration requirements of the U.S. Securities Act provided by Section 4(a)(2) thereof and (2) outside
If and when issued, the New Notes will not be registered under the U.S. Securities Act or any state securities laws. Therefore, the New Notes may not be offered or sold in
The lead dealer managers for the Exchange Offers were
This press release is not an offer to sell or a solicitation of an offer to buy any security. The Exchange Offers are being made solely by the Offering Memorandum and only to such persons and in such jurisdictions as is permitted under applicable law.
This communication has not been approved by an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000, as amended (the "FSMA"). Accordingly, this communication is not being directed at persons within the
In particular, this communication is only addressed to and directed at: (A) in any Member State of the European Economic Area that has implemented the Prospectus Directive (as defined below), qualified investors in that Member State within the meaning of the Prospectus Directive and (B) (i) persons that are outside the
Cautionary Statement Regarding Forward-Looking Statements
In 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," "hopes" or similar expressions. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The following important factors, along with those discussed in our filings with the
SOURCE
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