New Issue: Verizon prices $950 million of Taipei Exchange-listed 5.15% notes due 2050 at par

By Cristal Cody

Tupelo, Miss., Aug. 1 – Verizon Communications Inc. (Baa1/BBB+/A-) priced $950 million of 5.15% notes due Sept. 15, 2050 on Tuesday at par, according to an FWP filing with the Securities and Exchange Commission.

BNP Paribas Securities Corp., Taipei branch, and Citibank Taiwan Ltd. were the underwriters for the Taiwan offering.

Verizon intends to apply to list the notes on the Taipei Exchange.

The company plans to use the proceeds for 29 separate cash tender offers for its notes and notes of several of its subsidiaries, which are conditional upon the company raising at least $3 billion from new debt securities.

Verizon is a New York City-based telecommunications company.

Issuer:	Verizon Communications Inc.
Amount:	$950 million
Description:	Notes
Maturity:	Sept. 15, 2050
Bookrunners:	BNP Paribas Securities Corp., Taipei branch, and Citibank Taiwan Ltd.
Global structuring agents:	Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC
Junior structuring agents:	BNY Mellon Capital Markets, LLC, C.L. King & Associates, Inc., Loop Capital Markets LLC, MFR Securities, Inc. and Scotia Capital (USA) Inc.
Coupon:	5.15%
Price:	Par
Yield:	5.15%
Call features:	Every Sept. 15 on or after Sept. 15, 2022 at par
Trade date:	Aug. 1
Settlement date:	Aug. 15
Ratings:	Moody’s: Baa1
	S&P: BBB+
	Fitch: A-
Distribution:	SEC registered

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