Verizon Plans to Redeem Notes in September 2025: Key Details
Verizon’s Upcoming Debt Redemption Explained
Verizon Communications Inc. (NYSE, NASDAQ: VZ) is set to make a significant financial move by redeeming certain notes entirely by September 3, 2025. This process reflects the company's ongoing strategy to manage its debt effectively while providing valuable information to its investors and stakeholders.
Details of the Redemption Offer
The specific securities set for redemption include the 3.25% Notes due in 2026, identified by the CUSIP number 92343V BW3. With a substantial principal amount of €842,980,000 outstanding, these notes are essential to Verizon's financial portfolio.
Redemption Price Calculation
The price at which these notes will be redeemed is determined through a clear formula. It will be the greater of the following two amounts: 100% of the principal amount of the Notes being redeemed, or the present value of remaining payments of principal and interest, excluding any interest accrued up to the Redemption Date. This present value is subject to discounting based on the Comparable Government Bond Rate, plus an additional 25 basis points. The final calculation will occur on the third business day preceding the Redemption Date.
Importance for Investors
This redemption move is part of Verizon’s commitment to maintaining a robust financial standing. By opting to redeem these notes, Verizon aims to optimize its capital structure and reduce overall debt levels. Investors should view this decision as a positive strategy, indicating the company's sound financial health.
Contact Information for Inquiries
If you have questions regarding this redemption offer or require additional materials, Verizon has suggested contacting the paying agent. U.S. Bank Trust Company is the appointed agent for these matters, reachable via their office at 333 Thornall Street, Edison, New Jersey, or by phone at 1-800-934-6802. They are equipped to handle any inquiries regarding this redemption process.
Media and Company Contact
For media-related inquiries, please reach out to Katie Magnotta at Verizon through the provided email contact: katie.magnotta@verizon.com, or by calling 201-602-9235. Effective communication with media representatives like Katie is essential for ensuring clear and accurate dissemination of information regarding Verizon’s developments.
Frequently Asked Questions
What notes is Verizon planning to redeem?
Verizon is planning to redeem its 3.25% Notes due 2026.
When is the redemption date for these notes?
The redemption date is set for September 3, 2025.
What is the amount of the outstanding notes?
The total outstanding amount of the notes is €842,980,000.
How is the redemption price calculated?
The redemption price is either 100% of the principal amount or the present value of scheduled payments, discounted to the redemption date.
Who can be contacted for further inquiries?
Inquiries can be directed to U.S. Bank Trust Company at their Edison, New Jersey office or by calling 1-800-934-6802.
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