By William Gullotti and Cristal Cody
Buffalo, N.Y., Feb. 20 – Verizon Communications Inc. sold $1 billion 5.5% 30-year notes on Tuesday at 98.727, according to an FWP and a 424B2 filed with the Securities and Exchange Commission.
The notes feature a make-whole call at Treasuries plus 20 basis points until Aug. 23, 2053, followed by a par call.
Price talk started in the Treasuries plus 140 bps area. The notes priced with a 115 bps spread
Citigroup Global Markets Inc., Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Samuel A. Ramirez & Co., Inc. and Siebert Williams Shank & Co., LLC are the joint bookrunning managers.
Proceeds will be used for eligible green investments, mainly for renewable energy projects.
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: | Feb. 23, 2054
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| Bookrunners: | Citigroup Global Markets Inc., Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Samuel A. Ramirez & Co., Inc. and Siebert Williams Shank & Co., 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: | 5.5%
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| Price: | 98.727
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| Spread: | Treasuries plus 115 bps
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| Call: | Make-whole call at Treasuries plus 20 bps until Aug. 23, 2053, then a par call
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| Trade date: | Feb. 20
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| Settlement date: | Feb. 23
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| Distribution: | SEC registered
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| Price talk: | Treasuries plus 140 bps area
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| Cusip: | 92343VGW8
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