Verizon Caps Five Note Tender Offers at $500 Million in Total Consideration
Photo: TokenPost
Verizon Communications Inc. set a $500 million limit on total consideration for five cash tender offers for outstanding notes. Purchases will follow a priority order, and the three highest-ranked series share a separate $155 million total-consideration subcap; both limits exclude accrued interest. The offers cover notes maturing from 2028 through 2061. In priority order, they include 3.000% notes due Nov. 20, 2060, with $1,864,262,000 outstanding; 3.700% notes due March 22, 2061, with $2,670,732,000 outstanding; and 2.650% notes due Nov. 20, 2040, with $1,948,887,000 outstanding. Those three series are subject to the shared subcap.
Source: TokenPost
