Verizon to sell nine-tranche offering of fixed-rate notes, floaters

By Devika Patel

Knoxville, Tenn., March 11 – Verizon Communications Inc. is planning to sell dollar-denominated notes in nine parts, according to a 424B2 filed with the Securities and Exchange Commission.

There will be two tranches of floating-rate notes and seven tranches of fixed-rate notes.

The floaters are non-callable. Some of the fixed-rate notes have a make-whole call, and some of the fixed-rate notes have a make-whole call followed by a par call.

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are global coordinators. They are also bookrunners along with Barclays, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC.

The company intends to use net proceeds from this offering for general corporate purposes.

Verizon is a New York-based telecommunications company.

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