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 |
| CUSIP EH6556557 |
8.875% notes due |
£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
[email protected]
SOURCE Verizon
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article