Verizon pricing two-part three-year notes offer Wednesday

By Aleesia Forni

Virginia Beach, June 4 - Verizon Communications Inc. is expected to sell senior notes in two parts due 2017 during Wednesday's session, according to a market source and a 424B5 filed with the Securities and Exchange Commission.

The offering will be divided into tranches of floating-rate and fixed-rate notes.

Barclays, BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are the joint bookrunners.

Proceeds will be used to repay borrowings under the company's three-year tranche of its term loan credit agreement and for general corporate purposes.

Verizon is a New York City-based telecommunications company.

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