Boston, MA 08/21/2014 (wallstreetpr) – Verizon Communications Inc. (NYSE:VZ) has announced the final results of exchange offers that were announced some time back by VZ to exchange a few debt securities and by Alltel Corporation to issue new debt securities by VZ. All the securities will be announced in accordance with the T&C of the exchange offer.
What’s in the exchange offer:
(A) The exchange offer consists of the following two things-
- Exchange offer to exchange 3.650% notes of Verizon Communications Inc. (NYSE:VZ) due by 2018
- An offer to exchange 2.500% notes of VZ due by 2016
In case the company decides to issue new 2.625% notes due by 2020, then the principal amount of such notes should not exceed $3,300,000,00.
(B) Another bunch of exchange offers are as follows-
- An offer to exchange the 7.350% notes of VZ due by 2039
- An offer to exchange the 7.875% debentures of Alltel Corporation due by 2032
- An offer to exchange the 7.750% notes of VZ due by 2032
- An offer to exchange the 7.750% notes of VZ due by 2030
- An offer to exchange the 6.800% debentures of Alltel Corporation due by 2029
- An offer to exchange the 6.400% notes due by 2033
The new 4.862% notes of Verizon Communications Inc. (NYSE:VZ) due by 2046 are to be issued in one condition only, and that is if the principal amount shall not exceed $4,500,000,00 on an aggregate basis.
(C) Three more exchange offers are as follows-
- An offer to exchange the 6.550% notes of VZ due by 2043
- An offer to exchange the 6.900% notes of VZ due by 2038
- An offer to exchange the 6.400% notes of VZ due by 2038
If Verizon Communications Inc. (NYSE:VZ) decides to issue new 5.012% notes due by 2054, then the aggregate principal amount should not exceed $5,500,000,000 limit. If VZ breaks this rule, then it will not be able to issue new debt securities.
