Verizon Accepts $663.976 Million in Principal Across Four Note Series

Verizon announced final results for five cash tender offers after they expired Nov. 4, accepting $663.976 million in principal across four note series while leaving its 2040 notes out of the purchase. The accepted-principal total differs from the offer’s purchase-price limit. Verizon initially set an aggregate purchase-price cap of $500 million and later raised its Waterfall Cap to $500.039 million. It also increased the Sub Cap beyond $155 million to accept more qualifying notes. The $663.976 million figure measures principal; the original cap measured aggregate purchase price.

Source: TokenPost