Verizon Communications offers two tranches of Canadian dollar notes

Chicago, March 16 – Verizon Communications Inc. announced plans to offer two tranches of fixed-rate notes denominated in Canadian dollars, according to a 424B5 filing with the Securities and Exchange Commission.

The offering comes after the issuer sold $25 billion of notes in the U.S. market last week and then moved over to Europe and priced €2.75 billion in three parts on Monday.

The notes will be redeemable at the company’s option for a make-whole premium until a set number of months before maturity when the call option will convert to a par call.

Bookrunners for the notes are Merrill Lynch Canada, Inc., RBC Dominion Securities Inc. and TD Securities Inc.

Proceeds will be used for general corporate purposes, including previously announced acquisitions, the acquisition of spectrum licenses and possibly the repayment of outstanding debt.

Verizon is a New York-based telecommunications company.

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