Verizon exercises make-whole call for $3.51 billion of 4.5% notes

By Susanna Moon

Chicago, Oct. 31 – Verizon Communications Inc. issued a redemption notice for its $3,510,199,000 principal amount of outstanding 4.5% notes due 2020.

The notes will be redeemed on Nov. 30 at par plus a make-whole premium calculated using a discount rate of Treasuries plus 35 basis points plus accrued interest up to but excluding the redemption date, according to a company notice.

Verizon is a New York City-based telecommunications company.

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