Loan & DebtJun 17, 2026, 07:48 AM
Verizon completes debt exchange, accepts $161.4M Old Notes
AI Summary
Verizon Communications Inc. announced the final results of its previously announced exchange offers and consent solicitations for various series of Old Notes, which expired on June 16, 2026. The company accepted approximately $161.4 million in aggregate principal amount of Old Notes for exchange into newly issued notes. Requisite consents were also received for proposed amendments to the indentures governing six series of Old Notes, aiming to eliminate certain restrictive covenants. The settlement date for the exchange offers is June 22, 2026.
Key Highlights
- Verizon completed exchange offers and consent solicitations for 11 series of Old Notes.
- Approximately $161.4 million aggregate principal amount of Old Notes were accepted for exchange.
- Requisite consents were received for proposed amendments to indentures of 6 series of Old Notes.
- Highest participation was 85.89% for 8.625% Debentures due 2031 ($2.045M accepted).
- Lowest participation was 1.03% for 6.860% Debentures due 2028 ($2.903M accepted).
- New Notes will have the same economic terms as the corresponding Old Notes.
- The settlement date for the exchange offers is June 22, 2026.
Price Impact
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