Published on 5/5/2023 in the Prospect News Green Finance Daily and Prospect News Investment Grade Daily.
New Issue: Verizon prices $1 billion of 5.05% 10-year notes at 99.837
By Wendy Van Sickle
Columbus, Ohio, May 5 – Verizon Communications Inc. sold $1 billion 5.05% 10-year notes on Friday at 99.837, according to an FWP filed with the Securities and Exchange Commission.
CastleOak Securities, LP, Loop Capital Markets, LLC, Samuel A. Ramirez & Co. Inc., Siebert Williams Shank & Co., LLC and Wells Fargo Securities LLC were the bookrunners.
The company intends to use net proceeds from this offering for financing or refinancing eligible green investments made by Verizon during the period from Jan. 1 through the maturity date of the eligible notes. Verizon’s eligible green investments are defined by projects that meet the following criteria: development or operation of solar and wind energy equipment or systems and/or the purchase of renewable solar or wind energy via long-term power purchase agreements or virtual power purchase agreements.
Verizon is a New York-based telecommunications company.
Issuer: | Verizon Communications Inc.
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Amount: | $1 billion
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Issue: | Notes
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Maturity: | May 9, 2033
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Bookrunners: | CastleOak Securities, LP, Loop Capital Markets, LLC, Samuel A. Ramirez & Co. Inc., Siebert Williams Shank & Co., LLC and Wells Fargo Securities LLC
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Trustee: | U.S. Bank Trust Co., NA
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Counsel to issuer: | In-house
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Counsel to underwriters: | Milbank LLP
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Coupon: | 5.05%
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Price: | 99.837
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Call: | Make-whole call at Treasuries plus 25 bps until Feb. 9, 2033, then a par call
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Trade date: | May 5
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Settlement date: | May 9
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Distribution: | SEC registered
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