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Verizon to redeem all £45.81 million 8.875% notes due 2018 on April 29
By Wendy Van Sickle
Columbus, Ohio, March 30 – Verizon Communications Inc. and its subsidiaries, Cellco Partnership and Verizon Wireless Capital LLC, called their £45.81 million of outstanding 8.875% notes due Dec. 18, 2018, according to a press release.
The notes will be redeemed April 29.
The redemption price will equal the greater of 100% of the principal amount of the notes being redeemed, or the sum of the present values of the remaining scheduled payments of principal and interest on the notes [excluding interest accrued to the redemption date], discounted to the redemption date on an annual basis at the comparable government bond rate as defined in the notes plus 30 basis points, plus accrued interest to but excluding the redemption date.
Verizon is a New York City-based telecommunications company.
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