Verizon to redeem debt securities on September 22
NEW YORK – Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today announced that it will redeem the following series of notes (the “Notes”) on September 22, 2017 (the “Redemption Date”):
Title of Note
Principal Amount Outstanding
Principal Amount to be Redeemed
3.65% Notes due 2018
The redemption price (the “Redemption Price”) for the Notes will be equal to the greater of: (1) 100% of the principal amount of the Notes, or (2) 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 a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the Notes) plus the make-whole premium, as set forth in the table above; plus, in either case, accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date.
The Redemption Price for the Notes 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.
Verizon Communications Inc. (NYSE, NASDAQ: VZ), headquartered in New York City, has a diverse workforce of 163,400 and generated nearly $126 billion in 2016 revenues. Verizon operates America’s most reliable wireless network and the nation’s premier all-fiber network, and delivers integrated solutions to businesses worldwide. Its Oath subsidiary houses more than 50 media and technology brands that engage about 1 billion people around the world.
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