Loan & DebtJun 2, 2026, 08:26 AM
Verizon Extends Early Participation for Debt Exchange Offers
AI Summary
Verizon Communications Inc. announced the extension of the early participation date for its private exchange offers and consent solicitations for 11 series of outstanding debt securities to June 16, 2026. The company also reported early participation results as of June 1, 2026, showing varying tender rates across different note series. The offers aim to exchange Old Notes for newly issued New Notes and amend existing indentures to eliminate certain restrictive covenants. A separate, concurrent cash tender offer for 20 series of notes is also underway.
Key Highlights
- Early participation date for exchange offers extended to June 16, 2026.
- Original early participation date was June 1, 2026.
- Withdrawal deadline for tenders expired on June 1, 2026.
- Verizon Delaware LLC 8.625% Debentures due 2031 saw 85.89% tendered.
- Alltel Corporation 7.875% Senior Notes due 2032 saw 57.35% tendered.
- Verizon New England Inc. 7.875% Debentures due 2029 saw 52.03% tendered.
- Exchange Offers and Consent Solicitations will expire on June 16, 2026.
- New Notes will have same economic terms as Old Notes but will not be registered.
Price Impact
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