NEW YORK, March 30, 2016 /PRNewswire/ -- Verizon
Communications Inc. ("Verizon") (NYSE, Nasdaq: VZ; LSE: VZC) today
announced that it and its subsidiaries, Cellco Partnership d/b/a
Verizon Wireless and Verizon Wireless Capital LLC, will redeem all
of the outstanding notes of the following series of securities (the
"Notes") on April 29, 2016 (the
"Redemption Date"):
|
I.D.
Number
|
Title of
Security
|
Principal Amount
Outstanding
|
|
CUSIP
EH6556557
ISIN
XS0405876672
Common Code
040587667
FIGI
BBG00008S652
|
8.875% notes due
December 18, 2018
|
£45,810,000
|
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 (exclusive of
interest accrued to the Redemption Date), as the case may be,
discounted to the Redemption Date on an annual basis (assuming the
actual number of days in a 365- or 366-day year) at the Comparable
Government Bond Rate (as defined in the Notes) plus 30 basis points
(the "Redemption Price"), plus 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 preceding the
Redemption Date.
Verizon Communications Inc. 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.
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
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visit:http://www.prnewswire.com/news-releases/verizon-to-redeem-debt-securities-300243136.html
SOURCE Verizon
