Verizon Communications, units to redeem various debt securities

By Tali Rackner

Norfolk, Va., Oct. 23 – Verizon Communications Inc. and subsidiaries Alltel Corp. and Cellco Partnership d/b/a Verizon Wireless and Verizon Wireless Capital LLC announced plans to redeem eight series of their debt securities, according to a notice.

The following will be redeemed on Nov. 24 at par plus a make-whole premium calculated using the Treasury rate plus the basis points listed below and accrued interest:

• Verizon’s $500 million outstanding 4.9% notes due Sept. 15, 2015, plus 20 bps;

• Verizon’s $598,324,000 outstanding 5.55% notes due Feb. 15, 2016, plus 25 bps;

• Alltel’s $143,328,000 outstanding 7% debentures due March. 15, 2016, plus 10 bps;

• Verizon’s $1.25 billion outstanding 3% notes due April 1, 2016, plus 20 bps;

• Verizon’s $1 billion of $3,182,335,000 outstanding 2.5% notes due Sept. 15, 2016, plus 30 bps;

• Verizon’s $396,969,000 outstanding 5.5% notes due April 1, 2017, plus 25 bps;

• Verizon’s $735,653,000 outstanding 8.75% notes due Nov. 1, 2018, plus 75 bps; and

• Cellco and Verizon Wireless’ $380,591,000 outstanding 8.5% notes due Nov. 15, 2018, plus 75 bps.

Verizon is a New York City-based telecommunications company.

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