Published on 9/9/2014 in the Prospect News Investment Grade Daily.
New Issue: Verizon Communications prices $870 million 4.8% 30-year notes at par
By Aleesia Forni
Virginia Beach, Sept. 9 – Verizon Communications Inc. priced $870 million of 4.8% 30-year bonds at par on Tuesday, according to a FWP filed with the Securities and Exchange Commission.
E. Sun Commercial Bank Ltd. and MasterLink Securities Corp. were the underwriters.
Proceeds will be used for general corporate purposes, including refinancing debt.
Verizon is a New York City-based telecommunications company.
| Issuer: | Verizon Communications Inc.
|
| Amount: | $870 million
|
| Description: | Notes
|
| Maturity: | Sept. 23, 2044
|
| Underwriters: | E. Sun Commercial Bank Ltd., MasterLink Securities Corp.
|
| Global structuring agent: | Morgan Stanley & Co. LLC
|
| Junior structuring agent: | Blaylock Beal Van, LLC, Great Pacific Securities, Guzman & Co., Muriel Siebert & Co., Inc.
|
| Coupon: | 4.8%
|
| Price: | Par
|
| Yield: | 4.8%
|
| Call option: | Annually on each Sept. 23 in whole at par, beginning Sept. 23, 2015
|
| Trade date: | Sept. 9
|
| Settlement date: | Sept. 23
|
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