New Issue: Verizon Communications prices $2.06 billion 4.2% 30-year notes at par

By Cristal Cody

Eureka Springs, Ark., Sept. 2 – Verizon Communications Inc. (Baa1/BBB+A-) sold $2,059,000,000 of 4.2% 30-year senior notes on Friday at par, according to an FWP filing with the Securities and Exchange Commission.

BNP Paribas Securities Corp., Taipei Branch, E.SUN Commercial Bank, Ltd. and MasterLink Securities Corp. were the underwriters.

The notes will be listed on the Taipei Exchange.

Proceeds are expected to be used to redeem all $870 million of the company’s 4.8% notes due 2044 by Sept. 23 at par plus accrued interest and for general corporate purposes.

Verizon is a New York City-based telecommunications company.

Issuer:	Verizon Communications Inc.
Amount:	$2,059,000,000
Description:	Senior notes
Maturity:	Sept. 22, 2046
Bookrunners:	BNP Paribas Securities Corp., Taipei Branch, E.SUN Commercial Bank, Ltd., MasterLink Securities Corp
Global coordinator:	Morgan Stanley & Co. LLC
Junior structuring agents:	Credit Suisse Securities (USA) LLC, MUFG, Loop Capital Markets LLC
Coupon:	4.2%
Price:	Par
Yield:	4.2%
Call feature:	Every Sept. 22 on or after Sept. 22, 2018 at par
Trade date:	Sept. 2
Settlement date:	Sept. 22
Ratings:	Moody’s: Baa1
	S&P: BBB+
	Fitch: A-
Distribution:	SEC registered
Listing:	Taipei Exchange

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