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30.11.2017 14:05
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PR Newswire
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Verizon announces extension of early participation date and early results of its private exchange offers / consent solicitations for 18 series of notes
Das Verizon-Gebäude in New York.
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PR Newswire
NEW YORK, Nov. 30, 2017
NEW YORK, Nov. 30, 2017 /PRNewswire/ -- Verizon Communications Inc. ("Verizon") (NYSE, NASDAQ: VZ) today announced that the early participation date has been extended until 11:59 p.m. (New York City time) on December 13, 2017 (the "Extended Early Participation Date"), with respect to its previously announced (i) offers, on behalf of certain of its wholly-owned subsidiaries, to exchange any and all of the outstanding series of notes listed below (collectively, the "Old Notes") for specified series of newly issued debt securities of Verizon (collectively, the "New Notes") (and additional cash amounts for specified series of Old Notes) (the "Exchange Offers"), and (ii) solicitations of consents, on behalf of such subsidiaries, to the proposed amendments (the "Proposed Amendments") to the indentures governing the Old Notes in order to, among other things, eliminate certain of the restrictive covenants contained therein (the "Consent Solicitations"), in each case on the terms and subject to the conditions set forth in the Exchange Offer and Consent Solicitation Statement dated November 15, 2017 (the "Exchange Offer and Consent Solicitation Statement" and, together with the accompanying letter of transmittal and eligibility letter, the "Offer Documents"). Accordingly, the Extended Early Participation Date will occur at the same time the Exchange Offers and Consent Solicitations are scheduled to expire. Eligible Holders (as defined below) who validly tender their Old Notes at or prior to the Extended Early Participation Date and whose Old Notes are accepted by Verizon will be eligible to receive the Total Consideration (as defined in the Exchange Offer and Consent Solicitation Statement), which includes the Early Participation Payment (as defined in the Exchange Offer and Consent Solicitation Statement). The deadline to validly withdraw tenders (and validly revoke the related consents) of Old Notes was not modified by Verizon, and expired with respect to all series of Old Notes at 5:00 p.m. (New York City time) on November 29, 2017. Verizon today also announced the early participation results, as of 5:00 p.m. (New York City time) on November 29, 2017 (the "Original Early Participation Date"), of the Exchange Offers and Consent Solicitations.
Verizon was advised by Global Bondholder Services Corporation, as the Information Agent and the Exchange Agent, that as of the Original Early Participation Date, the aggregate principal amounts of the Old Notes (and the related consents) specified in the table below were validly tendered and not validly withdrawn with respect to the Exchange Offers and Consent Solicitations:
| Offers to Exchange Any and All of the Outstanding Notes Listed Below | |||||
| for New 8.000% Notes due 2022 Issued by Verizon Communications Inc. (the "New Notes due 2022"): | |||||
| | | | | | |
| CUSIP Number | Subsidiary Issuer(1) | Title of Security | Principal Amount Outstanding | Aggregate Principal | Percentage of Principal |
| 645767AY0 | Verizon New Jersey Inc. | 8.000% Debentures due 2022 | $111,392,000 | $4,275,000 | 3.84% |
| 362320AT0 | GTE LLC | 8.750% Debentures due 2021* | $192,879,000 | $4,120,000 | 2.14% |
| 165087AN7 | Verizon Virginia LLC | 7.875% Debentures due 2022 | $56,009,000 | $28,000,000 | 49.99% |
| Offers to Exchange Any and All of the Outstanding Notes Listed Below | |||||
| for New 6.800% Notes due 2029 Issued by Verizon Communications Inc. (the "New Notes due 2029"): | |||||
| | |||||
| CUSIP Number | Subsidiary Issuer(1) | Title of Security | Principal Amount Outstanding | Aggregate Principal | Percentage of Principal |
| 020039AJ2 | Alltel Corporation | 6.800% Debentures due 2029 | $138,677,000 | $22,260,000 | 16.05% |
| 362320BA0 | GTE LLC | 6.940% Debentures due 2028 | $315,309,000 | $41,945,000 | 13.30% |
| 650094CJ2 | Verizon New York Inc. | 6.500% Debentures due 2028 | $69,404,000 | $33,863,000 | 48.79% |
| 07786DAA4 | Verizon Pennsylvania LLC | 6.000% Debentures due 2028 | $55,875,000 | $10,981,000 | 19.65% |
| 165087AL1 | Verizon Virginia LLC | 8.375% Debentures due 2029 | $9,031,000 | — | — |
| 165069AP0 | Verizon Maryland LLC | 8.000% Debentures due 2029* | $27,358,000 | $7,181,000 | 26.25% |
| 078167AZ6 | Verizon Pennsylvania LLC | 8.350% Debentures due 2030 | $31,343,000 | $26,000 | 0.08% |
| 165069AQ8 | Verizon Maryland LLC | 8.300% Debentures due 2031* | $21,314,000 | $110,000 | 0.52% |
| 078167BA0 | Verizon Pennsylvania LLC | 8.750% Debentures due 2031 | $36,009,000 Werbung Mehr Nachrichten zur Verizon Communications Inc Aktie kostenlos abonnieren
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